Money
Trump says India’s Reliance will back first new US oil refinery in 50 years
US president hails new project in Brownsville, Texas, as Iran war drives higher fuel prices
Editorial Staff
1 min read
Updated about 2 months ago
Summary
- Summary pending editorial review.
Key Facts
| Fact | Value |
|---|---|
| Location | Brownsville, Texas |
| Project Type | Oil Refinery |
| Investment Partner | India’s Reliance |
| Historical Context | First new US oil refinery in 50 years |
Sources
- Financial Times: https://www.ft.com/content/9ead6309-ca6d-4f24-b765-360b840bc01b
Updates
Update at 02:17 UTC on 2026-03-11
CNBC reported U.S. President announced a $300-billion refinery project in Texas backed by India's largest private energy company.
Sources: CNBC