U.S. Secretary of State Marco Rubio visited the Reliance Industries refinery in Jamnagar on Wednesday to discuss the processing of energy supplies from the Western Hemisphere, according to statements made by the secretary. The visit is part of an effort to explore closer cooperation on energy refining between the United States and the Indian company.
In an interview with India’s Network 18, which is owned by Reliance, Rubio stated that the U.S. is looking to “work together more closely” with the company. “I think that’s helpful to India, but it’s also helpful to us,” he said.
The Jamnagar facility has a crude processing capacity of 1.4 million barrels per day and is described by Reliance Industries as the world’s largest single-site refinery. Rubio’s visit to the plant in the Indian state of Gujarat follows a press conference on Tuesday where he addressed India’s role in global energy markets.
During the press conference, Rubio referred to India as a “refining superpower,” noting Reliance’s capacity to process heavy crude oil. He suggested that this capability could help India diversify its energy sources, specifically mentioning Venezuela’s oil production.
“We think there’s an opportunity for them [Reliance Industries] to continue to help India diversify its supply chain, its supply of energy,” Rubio told Network 18, adding that Venezuela was increasing its energy output.
The discussions also occur in the context of a previously announced U.S. project. In March, former U.S. President Donald Trump announced plans for the construction of a new oil refinery in the United States, which he said would be supported by an investment from Reliance. In a post on the social media platform Truth Social, Trump described a “$300 billion dollar deal.” Reliance Industries has not issued a public statement confirming the size of the investment.
Pramit Pal Chaudhuri, the South Asia practice head at the consulting firm Eurasia Group, told CNBC that the absence of a formal announcement from Reliance has led to uncertainty regarding the deal.
Chaudhuri also commented on the technical capabilities of certain refineries, noting that facilities in India and China are well-suited to handle heavy and medium-heavy crude from countries such as Venezuela and Russia, grades of oil often used for producing diesel fuel. The secretary’s visit comes at a time of elevated diesel prices in the United States.
