The first major oil refinery will open in America after 50 years. President Trump announced a historic deal of $ 300 billion with Reliance.

News India Live, Digital Desk: US President Donald Trump has announced a deal with the Indian giant Reliance Industries, which has created a stir in the energy market of the entire world. Trump informed on the social media platform ‘Truth Social’ that for the first time after 50 years, a new and huge oil refinery is being opened in Texas, America. What is this ‘historic’ deal? Investment of 300 billion dollars: Trump has called it the biggest deal in American history. The total cost of this project is said to be around 300 billion dollars (about Rs 25 lakh crore). Role of Reliance: Mukesh Ambani’s Reliance Industries is investing in this mega project as the main partner. Trump has especially expressed his gratitude to Reliance and India for this. Location: This refinery will be built in Port of Brownsville, Texas. Claiming to be the world’s ‘cleanest’ refinery, Trump has claimed that this will not be just a refinery, but it will be the “cleanest refinery in the world”. American Shale Oil: This refinery will be entirely used for light shale produced in America. It is designed to process Shale Oil. Energy Dominance: This step is being considered a part of Trump’s ‘America First’ policy, which aims to make America self-reliant in the field of energy. Important step between Iran war and global crisis. This announcement has come at a time when there is a fierce conflict between Iran and America-Israel in West Asia (Middle East). Crisis of the Strait of Hormuz: Global oil supply due to war. The main route (Strait of Hormuz) is almost at a standstill. Control on prices: America believes that by increasing domestic refining capacity, the prices of petrol and diesel will remain under control in the country despite the international crisis. Thousands of jobs: This project is expected to create thousands of new jobs in the South Texas region. Boom in Reliance’s shares. After this news, enthusiasm was also seen in the Indian stock market and the shares of Reliance Industries registered a rise of about 2%. However, a detailed official statement on this investment is yet to come from Reliance.