US will discuss processing Venezuelan crude with Reliance: Rubio
What's the story
United States Secretary of State Marco Rubio has said that the United States will be discussing with Mukesh Ambani-owned Reliance Industries about refining more Venezuelan crude. "We'll talk with Reliance about refining more Venezuelan crude," Rubio said. Speaking to reporters at the Taj Memorial in Mumbai, Rubio hailed the country as a "refining superpower." He said India's refining capabilities could play a crucial role in processing heavy crude oil, including supplies from Venezuela.
Oil cooperation
India could play significant role in processing heavy crude: Rubio
"They have the capability to refine heavy crude. They've done so in the past, and I think as more and more Venezuelan oil comes online, it's something they can do. They also, by the way, have pre-existing oil concessions in Venezuela that can produce more themselves," Rubio emphasized.
The Secretary of State, however, cautioned that Venezuelan oil alone may not be enough to fill potential supply gaps caused by global developments.
Supply concerns
Venezuelan oil may not fully address supply gaps: Rubio
"I'm not claiming to you that Venezuela alone can fill the hole that could be caused by some of the things happening around the world, but I think over time, it most certainly can, and in the short term, it can certainly help."
He said energy cooperation would be among the issues discussed during his visit, adding that New Delhi had previously indicated its willingness to explore the possibility.
Trade talks
US-India trade agreement negotiations nearing completion, says Rubio
"With India, we've talked about it in the past, and they sound ready....There might be a few impediments that stand in the way in terms of sanctions and so forth that we'll have to work through...," he said.
On the proposed India-US trade agreement, Rubio said negotiations are nearing completion with a few outstanding issues remaining.
"The State Department doesn't negotiate trade agreements....but we're very, very close....we're about as close as you can be without having executed the agreement."
Strategic ties
Defence cooperation key aspect of US-India relationship, says Rubio
Rubio also stressed India's importance as a commercial and strategic partner of the US. He highlighted defense cooperation and India's membership in the Quad as key aspects of this relationship.
"It's an important commercial partner and business partner of the United States. We also do a lot of defense cooperation," he said, adding that India is a strong strategic partner.
Diplomatic reception
MEA welcomes Rubio on his arrival in Mumbai
The Ministry of External Affairs (MEA) welcomed Rubio on his arrival in Mumbai for his second two-day visit to India.
The MEA said the visit is an opportunity to deepen collaboration across multiple sectors of the India-US Comprehensive Global Strategic Partnership.
Rubio is accompanied by his spouse, Jeanette Rubio, and US Ambassador to India Sergio Gor during this trip.
After Mumbai, Rubio will visit Gujarat. In Jamnagar, Rubio will visit the world's largest single-site refinery, operated by Reliance Industries.