Overview
- President Trump said America First Refining will build a refinery at the Port of Brownsville and publicly thanked Reliance Industries for backing the project.
- America First Refining stated it received a nine‑figure investment from an unnamed global supermajor and signed a binding 20‑year offtake agreement, without identifying the counterparty.
- Multiple outlets report Reliance has not made a formal statement on any investment, and core terms such as total financing, capacity and timeline remain unsettled.
- Reporting links the Brownsville plan to Element Fuels’ earlier, permitted project in the roughly 160,000–168,000 barrels‑per‑day range, with some sources targeting construction in the second quarter of 2026.
- Trump labeled the initiative a $300 billion deal and the largest in U.S. history, while analysts note the figure reflects projected lifetime oil purchases and product value rather than construction cost, which industry estimates suggest would be far lower.