RELIANCE

in focus after Trump announces partnership to build $300 billion oil refinery in Texas

Reliance Industries' share price will be in focus on Wednesday after US President Donald Trump announced a major partnership with the Indian conglomerate to develop what he described as the first new US oil refinery in nearly 50 years. Announcing the project on Truth Social, Trump declared, “America is returning to Real Energy Dominance!" and called the Brownsville, Texas refinery a "Historic $300 billion deal - the biggest in US history" He thanked Reliance directly, writing, “Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous investment.” Trump said the America First Refining project would “fuel US markets, strengthen our National Security, boost American Energy production, deliver billions of dollars in economic impact, and will be the cleanest refinery in the world"