Rubio presses Reliance to refine more Venezuelan crude ahead of Jamnagar visit

US Secretary of State Marco Rubio wants Reliance Industries to take more Venezuelan crude. Speaking in Mumbai on Tuesday, he called India a “refining superpower”. Rubio visits the Jamnagar refinery on Wednesday and meets Reliance’s senior management, so Reliance Venezuelan crude purchases top the agenda.

Reliance Venezuelan crude: what Rubio wants

Rubio said Reliance has refined heavy Venezuelan oil before and “could do” more as supply grows. He also noted that Indian firms hold oil concessions in Venezuela. In fact, he said he would ask “what the hold-up is” on more Reliance output there. However, no production deal has been confirmed.

Jamnagar can process about 1.4 mmbbl/d of crude, including heavy, high-sulphur grades. Before it halted purchases in 2025, Reliance took about 2 mmbbl of Venezuelan crude a month, LSEG data show. Since then, buying has resumed. India’s Venezuelan imports reached about 358,000 bbl/d in August, the most since 2020, according to Kpler.

Why it matters for India

Venezuela holds about 303bn barrels of proven reserves, or 17% of the world total. Yet it reported output of only about 1.2 mmbbl/d in August. Its exports fell nearly 9% to about 1.08 mmbbl/d in September.

Meanwhile, Rubio pushed for more US energy sales to India. He also praised New Delhi’s “substantial progress” in moving away from Russian oil. In addition, he said a trade deal is weeks away. Two-way trade already tops $240bn, and the target is $500bn within three years.

For background, see our report on India’s Russian crude and fuel exports.