Trump Announces $300 Billion Refinery Deal With Reliance

The new oil refinery in Brownsville, Texas would be the first major new facility in the U.S. in 50 years.

Mar. 11, 2026 at 9:49am

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Former President Donald Trump has announced a $300 billion deal with India's Reliance Industries to build a new oil refinery in Brownsville, Texas. The refinery, to be constructed by a company called America First Refining, would be the first major new oil refinery built in the United States in roughly 50 years. Trump credited Reliance, led by billionaire Mukesh Ambani, for the "tremendous investment" in the project.

Why it matters

The announcement comes as the White House faces pressure over high fuel prices ahead of the midterm elections. The new refinery could help increase domestic oil processing capacity and potentially ease supply constraints, though the actual impact on prices remains to be seen.

The details

The refinery, once completed, would have the capacity to process around 160,000 barrels of oil per day. The project was previously being developed under the name Element Fuels, which had already secured permits and completed site preparation by mid-2024. The company's website has now been redirected to America First Refining, with John V. Calce leading both entities.

  • Groundbreaking for the refinery is planned for Q2 2026.
  • The last comparable oil refinery facility, Marathon Refinery, was built in 1976 when oil was under $5 a barrel.

The players

Donald Trump

The former President of the United States who announced the $300 billion refinery deal with Reliance.

Mukesh Ambani

The chairman and managing director of Reliance Industries, India's largest privately held energy company, which is investing in the new refinery project.

America First Refining

The company that will be constructing the new $300 billion oil refinery in Brownsville, Texas.

John V. Calce

The founder of America First Refining and the previously named Element Fuels, which had secured permits and completed site preparation for the refinery project.

Reliance Industries

India's largest privately held energy company, which is making a "tremendous investment" in the new $300 billion refinery project in the U.S.

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What they’re saying

“America is returning to REAL ENERGY DOMINANCE! Today I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas. THIS IS A HISTORIC $300 BILLION DOLLAR DEAL—THE BIGGEST IN U.S. HISTORY, A MASSIVE WIN for American Workers, Energy, and the GREAT People of South Texas! Thank you to our partners in India and their largest privately held Energy Company, Reliance, for this tremendous Investment.”

— Donald Trump

What’s next

Groundbreaking for the refinery is planned for Q2 2026.

The takeaway

This deal highlights the continued importance of oil and gas infrastructure investment in the U.S., even as the country transitions towards renewable energy sources. The new refinery could help increase domestic oil processing capacity and potentially ease supply constraints, though the actual impact on fuel prices remains to be seen.