US Secretary of State Marco Rubio on Tuesday said Washington will discuss refining more Venezuelan crude oil with Reliance Industries, describing India as a global “refining superpower”.
Rubio, who is on a 3-day India visit, also expressed optimism about the India-US trade deal, saying the two sides are close to finalising the agreement.
“We’ll talk with about refining more Venezuelan crude,” Rubio said.
Asked what role India could play in meeting global energy demand, said the country has the capacity to refine heavy crude oil and has done so in the past.
“They[India] have the capability to refine heavy crude. They’ve done so in the past, and I think as more and more comes online, it’s something they can do,” he said.
Rubio also noted that Indian companies have existing oil concessions in Venezuela that could help increase production.
“So, all these are positive things,” he said, adding that alone may not be sufficient to offset potential supply disruptions arising from global developments.
However, he said increased production could help in the short term and potentially play a larger role over time.
“I’m not claiming to you that Venezuela alone can fill the hole that could be caused by some of the things that are happening around the world, but I think over time, it most certainly can, and in the short term, it can certainly help,” said.
He added that Washington and had discussed the issue previously and that India appeared willing to pursue the opportunity.
“So, that’s one of the things we’ll talk about. With India, we’ve talked about it in the past, and they sound ready. They’re willing to do it. There might be a few impediments that stand in the way in terms of sanctions and so forth that we’ll have to work through,” he said.
Rubio also expressed confidence that the India-US trade agreement could be finalised shortly, saying only a limited number of issues remained unresolved.
“I would say we’re about as close as you can be without having executed the agreement. I think there’s a small number of items left to wrap up, so I think that will happen shortly,” he said.
His remarks come amid efforts by New Delhi and Washington to advance trade negotiations and address differences over tariffs, market access and other economic issues.
External Affairs Minister S Jaishankar met Rubio in Mumbai on Tuesday. US Ambassador to India Sergio Gor and Foreign Secretary Vikram Misri were also present at the meeting.
Rubio arrived in on October 20 for a three-day visit, during which energy cooperation, trade negotiations and broader bilateral ties are expected to feature prominently.
On Wednesday, October 21, he is scheduled to visit Reliance Industries Ltd’s twin refineries in , Gujarat, which form the world’s largest single-location refinery complex. He is also expected to meet Reliance chairman Mukesh Ambani.
Rubio’s second visit to India this year comes amid persistent friction in bilateral ties. During his earlier visit in May, he held talks with Prime Minister Narendra Modi and and attended a meeting of Quad foreign ministers.
