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Mumbai/Washington, Apr 14 (BNP): In a major development in the global energy sector, Reliance Industries Limited, led by billionaire industrialist Mukesh Ambani, is set to participate in the development of what could become the first major new oil refinery built in the United States in nearly five decades.

The announcement was made by US President Donald Trump, who described the initiative as the “largest refinery deal in US history” in a post on the social media platform Truth Social. While the project developer, America First Refining (AFR), did not officially name its partner, Trump identified Reliance Industries as a key participant, calling it a “historic $300 billion deal.”

The refinery is planned at the Port of Brownsville in Texas and will be designed to process light crude derived entirely from US shale oil. The project reflects the significant transformation in America’s energy landscape driven by shale production over the past decade.

According to AFR, the international partner has committed substantial investment and entered into a long-term commercial arrangement linked to the refinery’s output. A binding 20-year off-take agreement has reportedly been signed, under which the partner will purchase and distribute fuels produced at the facility.

Groundbreaking for the refinery is expected in the second quarter of 2026. Industry analysts estimate the project could require a capital expenditure of around $4–5 billion, although official financial details and timelines are yet to be disclosed.

Reliance Industries has not yet issued an official statement regarding its involvement. However, the potential investment underscores the company’s strategic push to expand its global energy footprint and strengthen its position in international refining and petrochemical markets.

Apr 14 (BNP): India is set to emerge as one of the biggest hotel markets in the world, supported by strong growth in travel and tourism across the country.

The hospitality sector is expanding steadily due to rising domestic travel, increasing business activity, and a growing number of international visitors. Demand for hotels is rising in major cities as well as smaller towns.

Experts say better transport facilities, improved airport connectivity, and a growing middle-class population are helping drive this growth. Many hotel companies are also opening new properties in both metro and emerging destinations.

With continued investment and development, India is expected to become a leading global hub for the hotel industry in the coming years.

Abu Dhabi, UAE – 14 April 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry and logistics solutions, signed a framework agreement with the National Company Maritime Ports Administration SA, the administrator of the Port of Constanța in Romania to explore strategic investment and development opportunities in the Black Sea’s largest port.

The agreement establishes a platform for collaboration across areas of mutual interest, including greenfield and brownfield port development, deployment of advanced digital solutions, and the advancement of sustainability-driven initiatives centred on renewable energy adoption, efficient waste management and emissions reduction, reinforcing long-term resilience and responsible growth. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “This agreement provides a framework for dialogue and cooperation with the Port of Constanța, one of the most strategically significant maritime hubs in the Black Sea region. Guided by the vision of our wise leadership in the UAE, we look forward to exploring opportunities that further strengthen the Group’s presence along the Middle Corridor, while supporting our Romanian partners in unlocking sustainable economic growth through enhanced connectivity and trade.’’

Located at the eastern edge of Europe, the Port of Constanța is a major trade gateway on the Black Sea and one of the largest ports in Europe. In 2025, it handled 88 million tonnes of liquid, dry, and general cargo, in addition to 1 million TEUs containers approximately.

Positioned at the mouth of the Danube–Black Sea Canal, the port provides a vital maritime link between the Black Sea shipping routes and inland waterways serving Eastern and Central Europe. As a fully integrated multimodal hub, connecting sea, rail, road, and river networks, Constanța plays a pivotal role in facilitating regional and international trade flows, including significant volumes of agri-products such as grains and cereals from Eastern Europe and Central Asia.

Over the past four years, AD Ports Group has made strategic investments across Central Asia and Pakistan to help reactivate the Middle Corridor, a commercially viable, lower-impact trade route connecting China and Europe along the historic Silk Road.

In 2025, the Group launched the Gulf Link logistics joint venture with KTZ Express, the freight unit of Kazakhstan Railways; inaugurated an intermodal logistics hub in Tbilisi, Georgia; and partnered with SEMURG Invest LLP, to develop a grain terminal at Kazakhstan’s Kuryk Port on the Caspian Sea.

Since 2022, through joint ventures with Kazakhstan’s national oil and shipping companies, KMG and KTMF, the Group has deployed tanker vessels to transport Kazakh oil across the Caspian Sea to Azerbaijan, linking into western pipeline networks. In December 2025, it further expanded its regional footprint by partnering with Avesto Group in Tajikistan to establish an integrated logistics and freight forwarding joint venture.

New Delhi, Apr 14 (BNP): India’s solid macroeconomic and financial sector fundamentals are expected to soften the blow from a sustained rise in global crude oil prices, even though higher energy costs could weigh on overall economic growth, according to S&P Global Ratings.

 Pic Credit: Pexel

Under a stress scenario where Brent crude averages around USD 130 per barrel in 2026, India’s GDP growth could be lower by as much as 80 basis points, the rating agency said.

S&P Global Ratings added that corporate profitability would also come under pressure in such a scenario, with earnings before interest, tax, depreciation and amortisation (EBITDA) expected to fall by 15–25 per cent in FY27, while leverage could rise by 0.5–1.0 times.

The agency further cautioned that banking sector asset quality may weaken under prolonged stress, with gross non-performing assets potentially rising to about 3.5 per cent.

New Delhi, Apr 14 (BNP): India’s oil marketing companies (OMCs) are reportedly facing significant under-recoveries on fuel sales as retail prices remain unchanged despite elevated global crude oil costs.

Industry estimates indicate that OMCs are currently incurring losses of around ₹18 per litre on petrol and nearly ₹35 per litre on diesel. These losses stem from the gap between stagnant retail prices and higher international crude and refining costs.

The price freeze has been maintained to protect consumers from sharp fluctuations in global energy markets. However, sustained volatility in crude oil prices continues to pressure the margins of fuel retailers, intensifying financial stress across the sector.