US Secretary of State Marco Rubio has signalled that Washington wants Reliance Industries to play a larger role in Venezuela's oil sector, including refining greater volumes of Venezuelan crude at its Indian facilities and potentially expanding involvement in oil production projects.

Speaking to reporters in Mumbai, Rubio said he intends to discuss the proposal directly with Reliance. He noted that the company has previously processed Venezuelan crude and possesses the capability to handle heavy grades of oil, positioning it well to increase refining activity as additional Venezuelan supplies enter the market.

Rubio also suggested that Indian companies already hold existing oil concessions in Venezuela, creating opportunities for increased production if commercial and operational conditions permit. He indicated that discussions with Reliance would explore what opportunities exist and what factors may be limiting further involvement.

The US Secretary of State described India as a "refining superpower", stressing that refining capacity is as strategically important as oil production itself. He highlighted Reliance's substantial processing capabilities and its importance within global energy markets.

Rubio arrived in Mumbai shortly after US President Donald Trump waived potential sanctions on major purchasers of Russian oil, including India. The decision is widely viewed as supporting efforts to advance a broader trade agreement between New Delhi and Washington while helping maintain stability in global energy supplies.

During his visit, Rubio is scheduled to meet External Affairs Minister S. Jaishankar and leading Indian business figures, including Reliance Industries Chairman Mukesh Ambani. He is also expected to visit the Jamnagar refining complex in Gujarat, regarded as the world's largest refining hub and a key asset in India's energy infrastructure.

The discussions form part of a wider push to deepen US-India energy cooperation, diversify crude supply chains and expand engagement with Western Hemisphere energy producers.

However, the Trump administration's decision to ease pressure on buyers of Russian oil has attracted criticism from some US lawmakers, who argue that Washington has adopted an overly lenient approach towards Moscow.

Agencies