Rubio to Discuss Venezuelan Crude With Reliance in Jamnagar

U.S. Secretary of State Marco Rubio is scheduled to visit Reliance Industries’ Jamnagar refinery on Wednesday, October 21, to discuss refining more Venezuelan crude, as Washington and New Delhi consider energy cooperation and continue trade negotiations. The sources do not confirm whether the planned meeting has taken place or produced an agreement. Rubio said in Mumbai on Tuesday that Reliance could process additional heavy crude from Venezuela, which he said Indian facilities had refined before. He also pointed to existing Indian oil interests in Venezuela as a possible avenue for increasing production. Those remarks describe topics for discussion, not a confirmed commitment by Reliance or the Indian government. Rubio said sanctions and other impediments may need to be addressed. He cautioned that Venezuelan oil alone would not make up for potential global supply disruptions, although increased output could provide some short-term relief. The reports do not specify what regulatory steps, if any, would be needed for expanded cooperation. Reliance operates the Jamnagar complex in Gujarat, which the company says can process about 1.4 million barrels of crude per day. The...