U.S. Secretary of State Marco Rubio visits India's Reliance refinery, discusses refining Venezuelan crude to diversify energy supplies and advance potential $300B U.S. refinery deal
U.S. Secretary of State Marco Rubio visits India's Reliance refinery to discuss refining Venezuelan crude, diversify energy supplies, and advance potential $300B U.S. refinery deal. Rubio stated that Reliance's "extraordinary" refining capacity could help India diversify its energy supplies, hinting at greater offtake of Venezuelan crude. This visit comes as U.S. President Donald Trump has been pushing India to buy more Venezuelan oil to replace Russian barrels, with Reliance already being the biggest buyer of Venezuelan crude outside of the U.S. as of end-September. Trump previously announced a $300 billion deal for Reliance to build a new refinery in the U.S., though Reliance has not confirmed the investment. The visit also coincides with surging diesel prices in the U.S. ahead of midterm elections.
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