US Secretary of State Marco Rubio has described India as a “refining superpower”, signalling Washington’s interest in expanding energy cooperation with Indian conglomerate Reliance Industries, particularly in refining Venezuelan crude oil and potentially increasing production in Venezuela.
Speaking to reporters in Mumbai on Tuesday during his visit to India, Rubio said Reliance had the technical capacity to process Venezuela’s heavy crude and could handle larger volumes as the South American country’s oil output expands.
“We will talk about it tomorrow with Reliance,” Rubio said, referring to discussions on refining more Venezuelan oil.
Reliance, led by billionaire Mukesh Ambani, operates the Jamnagar refining complex in Gujarat, one of the world’s largest refining facilities, with a combined processing capacity of approximately 1.4 million barrels per day. Its refineries are equipped to process the heavy, high-sulphur crude produced in Venezuela.
Washington Seeks Greater Energy Cooperation
Rubio is expected to meet Indian government and business leaders, including Ambani, as Washington explores opportunities to increase Venezuelan oil supplies to global markets.
The US secretary of state also indicated that discussions could cover the possibility of Reliance participating directly in oil production in Venezuela. Although the company has previously been involved in the country’s oil trade, it is not currently producing oil there.
Rubio said the US delegation would examine existing obstacles and potential opportunities for expanding the company’s involvement.
The discussions come as Washington seeks to encourage greater diversification of global energy supplies while Venezuela’s oil production increases. Any expansion, however, would depend on commercial arrangements, regulatory requirements and the applicable sanctions framework.
India’s Energy Strategy and Russian Oil
Rubio’s visit also comes amid ongoing negotiations over a comprehensive US-India trade agreement and debate over India’s purchases of Russian crude.
President Donald Trump recently waived potential tariff measures targeting major importers of Russian oil, including India, easing one source of tension between Washington and New Delhi.
Rubio acknowledged that countries must balance their economic interests with geopolitical concerns, particularly the impact of Russia’s war in Ukraine. He also said India had made substantial progress in diversifying its energy purchases.
India relies heavily on imported crude oil to meet domestic demand, making access to alternative suppliers strategically important.
Trade Deal Nears Completion
Beyond energy, Rubio said negotiations on a broader US-India trade agreement were approaching completion, with technical details remaining to be resolved. He indicated that an agreement could be finalised within weeks rather than months.
The proposed cooperation involving Venezuelan crude could offer commercial opportunities for Reliance while helping Washington expand the market for Venezuelan oil. It also highlights the growing intersection between energy security, trade negotiations and international diplomacy.
Whether the discussions translate into increased oil shipments or new investment in Venezuela will depend on the outcome of negotiations and the regulatory conditions governing the country’s oil industry.
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