New Delhi (Gurpreer Singh): US Secretary of State Marco Rubio has urged India to explore Venezuelan crude oil as an additional source of energy, arguing that the country’s extensive refining capacity could help process more supplies as Venezuela’s production increases.
Speaking to reporters in Mumbai ahead of his meeting with External Affairs Minister S Jaishankar, Rubio said Venezuelan oil could offer India another option as countries seek to diversify energy sources amid disruptions in global markets.
Rubio said he planned to discuss potential opportunities with Reliance Industries during his visit to the company’s Jamnagar refinery in Gujarat on Wednesday. He noted that Reliance had previously processed heavy crude oil and held oil concessions in Venezuela.
Calling India a “refining superpower”, Rubio highlighted its ability to process heavier grades of crude. However, he cautioned that Venezuelan supplies alone would not be enough to replace any major shortfall in global oil availability.
Why Is The US Promoting Venezuelan Oil For India?
Rubio presented Venezuelan crude as one possible addition to India’s energy portfolio, suggesting that rising production could provide some relief to global markets in the short term and contribute more significantly over time.
He acknowledged that US sanctions on Venezuela could complicate the expansion of oil supplies. According to Rubio, discussions with Reliance would help Washington understand the company’s concerns and identify potential areas of cooperation.
Any expansion in purchases would depend on commercial considerations, available supplies and the regulatory framework governing Venezuelan oil. Rubio’s remarks indicated that Washington was exploring ways to make additional crude available to Indian refiners while navigating the existing restrictions.
Reliance’s experience with heavy crude could make the company relevant to such discussions, although no new supply arrangement was announced in the remarks cited.
What Did Rubio Say About India’s Russian Oil Purchases?
Rubio also addressed India’s purchases of Russian crude, saying New Delhi had made “substantial progress” in diversifying its energy portfolio.
He said Washington welcomed these efforts and framed its objective as helping India broaden its sources of energy rather than simply reducing Russian oil purchases.
The comments underline the importance of energy diversification in India-US relations. India relies on imported crude to meet much of its energy demand, making the availability, price and reliability of supplies important considerations for policymakers and refiners.
Rubio described energy as a national security issue, warning that shortages could destabilise economies and intensify competition between countries for resources. He argued that access to a wider range of suppliers would benefit India and strengthen its strategic relationship with the US.
India-US Talks Cover Trade, Defence And Technology
Energy was one of several subjects discussed during Rubio’s engagement with Jaishankar. According to the US State Department’s meeting readout, the two officials also discussed regional and global developments, including the situation in the Middle East.
Rubio advocated greater purchases of US technologies and systems and highlighted progress in bilateral defence and civil nuclear cooperation.
Jaishankar said their discussions covered trade, energy, technology, defence and people-to-people exchanges, along with regional developments.
Rubio also expressed optimism about the ongoing India-US trade negotiations, saying a limited number of issues remained to be resolved. He described the two sides as being close to an agreement and said Washington hoped to make progress soon.
The proposed discussion with Reliance comes as India and the US look to deepen cooperation in strategic sectors. However, the potential role of Venezuelan crude will depend on supply growth, commercial terms and the implications of US sanctions.
