In talks with Reliance to refine more Venezuelan oil: US secretary of state Marco Rubio

MUMBAI/ DELHI: US secretary of state Marco Rubio Tuesday said US was in discussions with Reliance Industries on creating capacity to refine Venezuelan crude, calling India a refining superpower and underlining that Washington understood India’s need to diversify its oil imports and saw Venezuela as a potential source of supply. Rubio is visiting Jamnagar Wednesday to tour the Reliance refinery and, in a lastminute change of schedule, is likely to spend the night there.

He was earlier scheduled to leave around 9pm and return to Mumbai. In Jamnagar, he will have dinner with Mukesh Ambani at the Vantara centre.

Rubio’s visit to Jamnagar comes within weeks of a vicious attack on Ambani by Elon Musk, who even addressed him as “PM Ambani”. Before his departure for Jamnagar, Rubio will meet Gautam Adani and Tata group chief N Chandrasekaran in Mumbai.

Rubio, speaking to the media in Mumbai, said Reliance had previously operated in Venezuela and had the refining capabilities to process heavy crude oil. As Venezuelan oil production increases, the Indian company could play a role in processing more of the country’s output, he said, adding that the discussions would continue.“India is a refining superpower,” Rubio said, noting that Reliance had existing oil concessions in Venezuela and had refined its crude in the past.

“We’ll see how the conversation goes,” he said. On India’s purchase of Russian oil, Rubio said New Delhi had repeatedly expressed its desire to diversify its energy portfolio, describing it as a sensible strategy.

He acknowledged shifting supply sources could not be achieved overnight but said India had made substantial progress.“In the end, it’s not just about Russian oil; it’s about their desire to diversify,” he said, adding US was keen to be a source of energy supplies for India. Washington had discussed Venezuela and other countries as potential sources, he said, arguing a diverse energy portfolio was in the interests of both.

Key quotes

• “India is a refining superpower,”

• “We’ll see how the conversation goes,”

• “In the end, it’s not just about Russian oil; it’s about their desire to diversify,”