Trump Announces $300B Oil Refinery, 1st in 50 Years
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Trump, Strategic Petroleum Reserve
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The refinery, which will be built in Brownsville, Texas, is backed by Indian energy group Reliance Industries.
Trump said the massive Brownsville project would be financed by Reliance Industries, an Indian refining company owned by billionaire Mukesh Ambani.
Plans for an oil refinery in Brownsville, Texas, stalled after a permit fight. Now the developer has rebranded as America First Refining.
A new $3-4 billion oil refinery in Brownsville, Texas, has secured funding from Indian conglomerate Reliance and is expected to be fully operational by 2029, creating 500 direct jobs and thousands of indirect jobs in the region.
The Phillips 66 Los Angeles Refinery could be a test case for how the state and local governments should handle refinery closures, experts say.
Abu Dhabi state oil giant ADNOC has shut its Ruwais refinery in response to a fire at a facility within the complex following a drone strike, a source with knowledge of the situation said on Tuesday,