As the Strait of Hormuz shuts down amid war in Iran, President Trump announces America's first new oil refinery in decades.

Trump announced a historic $300 billion oil refinery project in Brownsville, Texas, the first new U.S. refinery in nearly 50 years, promising thousands of jobs.

A Houston-based startup company with backing from India's Reliance Industries hopes to complete the first new American refinery in half a century.

The scale of the investment has also drawn scrutiny. While Trump described it as a $300 billion deal, analysts note that a large refinery typically costs between $15 billion and $25 billion to construct. The higher figure likely reflects the long term value of crude supply. With mid-terms looming, the larger dollar amount sounds better.

Abu Dhabi's state oil company ADNOC halted the Ruwais refinery after an Iranian drone strike sparked a fire. Source: Reuters. Details: The decision was taken after a fire broke ou

Dangote Petroleum Refinery has reduced its ex-depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), marking the

America First Refining announced a historic milestone in U.S. energy production: the construction of the first new oil refinery built in the United States in 50 years. Made possible through the leadership of President Donald J.

President Donald Trump said the massive release of emergency oil reserves approved by the International Energy Agency would ease energy price pressures while the US seeks to “finish the job” in its campaign against Iran.