Mumbai/Washington, Apr 14 (BNP): In a major development in the global energy sector, Reliance Industries Limited, led by billionaire industrialist Mukesh Ambani, is set to participate in the development of what could become the first major new oil refinery built in the United States in nearly five decades.
The announcement was made by US President Donald Trump, who described the initiative as the “largest refinery deal in US history” in a post on the social media platform Truth Social. While the project developer, America First Refining (AFR), did not officially name its partner, Trump identified Reliance Industries as a key participant, calling it a “historic $300 billion deal.”
The refinery is planned at the Port of Brownsville in Texas and will be designed to process light crude derived entirely from US shale oil. The project reflects the significant transformation in America’s energy landscape driven by shale production over the past decade.
According to AFR, the international partner has committed substantial investment and entered into a long-term commercial arrangement linked to the refinery’s output. A binding 20-year off-take agreement has reportedly been signed, under which the partner will purchase and distribute fuels produced at the facility.
Groundbreaking for the refinery is expected in the second quarter of 2026. Industry analysts estimate the project could require a capital expenditure of around $4–5 billion, although official financial details and timelines are yet to be disclosed.
Reliance Industries has not yet issued an official statement regarding its involvement. However, the potential investment underscores the company’s strategic push to expand its global energy footprint and strengthen its position in international refining and petrochemical markets.
