Reliance Industries Share Price Jumps After $300 Billion US Oil Refinery Investment Plan

In a post on the social media platform Truth Social, the US President called the agreement a landmark investment and thanked the Indian conglomerate for its role in the project.

“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL – THE BIGGEST IN US HISTORY,” Trump wrote, praising the investment by India’s largest privately held energy company.

Refinery Planned at Port of Brownsville, Texas

According to the announcement, the refinery will be built at the Port of Brownsville in Texas and will be developed by America First Refining. The facility will be designed to process 100% American shale oil and is expected to significantly boost US energy production.

Trump stated that the refinery would fuel American markets, strengthen national security, and generate billions of dollars in economic activity. He also described the upcoming facility as “the cleanest refinery in the world".

The project is expected to bring thousands of jobs and major economic growth to the region. According to Trump, regulatory streamlining and tax cuts under the “America First” agenda helped attract such large investments back to the United States.

Reliance’s Global Refining Leadership

Mukesh Ambani-led Reliance operates the world’s largest oil refinery complex in Jamnagar, India. The company currently has a market capitalisation of around ₹19 lakh crore.

Despite the announcement, Reliance Industries has not yet issued any official statement to stock exchanges confirming its participation in the refinery project.

Construction Timeline and Project Details

Officials from the Brownsville municipality said that the groundbreaking ceremony is expected in April 2026 at the Port of Brownsville. The project will be located within a federally designated Economic Opportunity Zone, allowing developers to benefit from various incentives.

The refinery will primarily process American light shale oil sourced from the Permian Basin in West Texas. A 20-year offtake agreement tied to the project is expected to cover the purchase and processing of around 1.2 billion barrels of US light shale oil, estimated to be worth approximately $125 billion.

In addition, the refinery could produce about 50 billion gallons of refined petroleum products, including gasoline, diesel, and jet fuel, valued at around $175 billion. Combined, the project is projected to contribute nearly $300 billion to the US trade balance while expanding the country’s refining capacity.

Is It the First US Refinery in 50 Years?

While the project is being promoted as the first refinery in decades, data from the US Energy Information Administration suggests otherwise. The newest refinery in the United States is the Texas International Terminals refinery in Galveston, which began operations in February 2022 with a capacity of 45,000 barrels per day.

However, the last refinery with significant downstream unit capacity was built in 1977 at the Marathon facility in Garyville, Louisiana. As of January 1, 2024, the United States had 132 operational petroleum refineries.

Therefore, the Brownsville facility would be considered the first major refinery built in nearly five decades, rather than the first refinery overall.

Announcement Amid Global Oil Market Tensions

Trump’s announcement comes at a time of heightened volatility in global oil markets due to tensions linked to Iran and fears of a potential oil blockade in the Strait of Hormuz.

On Wednesday morning, Brent crude was trading at around $87.95 per barrel, while West Texas Intermediate (WTI) crude was priced at $83.75 per barrel. Both benchmarks had risen sharply amid the geopolitical tensions.

The price of Brent crude has climbed nearly 30% since December 31, 2025, and surged 17% within 12 days during the Middle East conflict. The Indian crude basket also rose to around $120 per barrel.

Reliance Industries Q3FY26 Financial Performance

For the third quarter of FY26, Reliance Industries reported a consolidated net profit of ₹18,645 crore, compared with ₹18,540 crore in the same quarter last year. On a sequential basis, profit increased 2.6% from ₹18,165 crore.

Revenue from operations rose 10.5% year-on-year to ₹269,496 crore in Q3FY26, up from ₹243,865 crore in Q3FY25. Sequentially, revenue increased 4% from ₹25,889.8 crore.

Reliance Industries Share Price Performance

Reliance Industries' share price traded slightly negatively on Wednesday. As of 10:21 am, the stock price was trading at ₹ 1,401.10 per share. The stock has gained 7.58% in the last five trading sessions but declined about 4% in the past month. Over the past six months, the stock has risen around 2%, while it has fallen more than 13% over the last 12 months.