US President Donald Trump on Tuesday (local time) announced what he called a “historic” $300 billion agreement to construct the first new oil refinery in the United States in five decades, with investment support from India’s Reliance Industries.
The refinery is planned for the Port of Brownsville in Texas and is expected to boost energy production while creating thousands of jobs in the region.
Trump revealed the project in a post on the social media platform Truth Social, describing it as a landmark development for the US energy industry.
“America is returning to REAL ENERGY DOMINANCE! Today I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas. THIS IS A HISTORIC $300 BILLION DEAL — THE BIGGEST IN US HISTORY, A MASSIVE WIN for American workers, energy, and the great people of South Texas,” Trump wrote.
He also thanked India and Reliance for their investment, calling it a major boost for the US energy sector.
According to Trump, the refinery project was enabled by his administration’s “America First” policies aimed at encouraging domestic industry through faster permit approvals and tax reductions.
The president said the facility would supply US markets, strengthen national security, and increase energy production while delivering billions of dollars in economic impact. He also claimed it would be “the cleanest refinery in the world.”
Trump added that the refinery would support global energy exports and bring thousands of jobs and economic growth to South Texas.
The announcement comes as the administration continues to promote its “energy dominance” strategy, which supports expanding the production of oil, natural gas, and coal.
It also comes amid heightened global energy concerns following escalating tensions in the Middle East. The situation intensified after Iran’s Supreme Leader Ayatollah Ali Khamenei was reportedly killed in joint US-Israel strikes on February 28, prompting Iran to launch attacks on Israeli and US-linked targets across several Gulf countries.
The conflict has also affected the Strait of Hormuz, a critical maritime route through which nearly 20% of the world’s oil supply passes, increasing volatility in global energy markets.
Addressing concerns about rising fuel prices, White House spokesperson Karoline Leavitt said the increase would be temporary.
“Rest assured to the American people, the recent rise in oil and gas prices is temporary, and this operation will result in lower gas prices in the long term. Once the national security objectives of Operation Epic Fury are fully achieved, Americans will see oil and gas prices drop rapidly, potentially even lower than before the operation began,” she said.
