U.S. Secretary of State Marco Rubio told Network 18 that Reliance Industries’ Jamnagar refinery could process Western Hemisphere energy supplies as President Donald Trump urges India to buy more Venezuelan oil.
In an interview with Network 18, a broadcaster owned by Reliance, Rubio said closer processing ties could help both countries. “I think that’s helpful to India, but it’s also helpful to us,” he said, according to CNBC. He cited Venezuela’s rising production and India’s experience processing some of its crude.
The Jamnagar complex can process 1.4 million barrels of crude per day, CNBC reported. The outlet also said Reliance ranked ahead of other buyers outside the United States for Venezuelan crude at the end of September. CNBC reported that Indian state-owned oil companies had also made purchases, while Reliance remained the primary buyer. It said Trump has urged India to replace Russian oil purchases with Venezuelan crude.
At a news conference Tuesday, Rubio called India a “refining superpower” when asked how New Delhi could contribute to global energy supplies, CNBC reported. Pramit Pal Chaudhuri, Eurasia Group’s South Asia practice head, told CNBC that Indian and Chinese refineries can process heavier crude grades from Venezuela and Russia, which are suited to diesel production.
Rubio’s planned Jamnagar visit follows his Oct. 20 meetings in Mumbai, where he promoted wider U.S.-India energy trade, as described in EconoTimes’ earlier coverage of the energy discussions.
A separate U.S. refinery project remains less defined. Trump announced in March that Reliance would help fund a new U.S. refinery, but CNBC said the company has not disclosed an investment amount or announced the investment itself. Chaudhuri told CNBC that the absence of company confirmation left uncertainty around the project.
The visit comes as diesel prices in the United States have risen. CNBC reported that the higher costs affect truckers, farmers and shippers, and that prices are expected to stay high into next year. Rubio was scheduled to visit the Jamnagar plant on Wednesday, Oct. 21.
