RIL shares in focus as Trump announces $300 billion deal; key details

Shares of Reliance Industries Ltd (RIL) are in focus on Wednesday after the US President Donald Trump in a social media post said the oil-to-telecom major will invest in a refinery, which will be built in Brownsville, Texas, as part of a $300 billion deal aimed at boosting American energy production and strengthening economic ties with international partners.  

In a post of Truth Social, he thanked partners in India, and the largest private energy company, RIL, "for this tremendous investment." 

For now, there was no announcement by RIL on stock exchanges regarding the same. 

"It is because of our America First Agenda, streamlining Permits, and lowering Taxes, that have attracted Billions of Dollars in Deals coming back to our Nation. A new Refinery at the Port of Brownsville, will 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," he said in a post.

Trump further added that the new refinery will power global exports, and bring thousands of long overdue Jobs and growth to a region that deserves it. 

"This is what AMERICAN ENERGY DOMINANCE looks like. AMERICA FIRST, ALWAYS!," he said.

Trump said it would be the first new US oil refinery in 50 years in Brownsville, Texas. Calling it a historic $300 billion deal, the biggest in US history, he said it is a massive wni for American workers, energy, and the GREAT People of South Texas! 

RIL, meanwhile, informed stock exchanges it was taking proactive steps and in line with the government guidelines, to maximise LPG production from its refining and petrochemicals complexes at Jamnagar,the world’s largest integrated refining hub. 

"Our teams are working around the clock to optimise refinery operations and enhance LPG output so that supplies to the domestic market remain stable and reliable. At the same time, natural gas produced from the KG-D6 Basin will be diverted to support supply to priority sectors, in line with national energy priorities and Government guidelines," it said.