US Secretary of State Marco Rubio on Tuesday called India a ‘refining superpower’ and said a US delegation would discuss reliance on oil production in Venezuela. Rubio, who arrived in Mumbai on Tuesday afternoon as part of a three-day visit to India, told reporters that India is a refining superpower. It has the capacity to process heavy crude oil. He has done this in the past, and I think he may do it again as more Venezuelan oil comes on the market. He was asked what role India can play in meeting the world’s energy demand.

Venezuela can fill the need

Rubio told reporters in Mumbai that he already has oil leases in Venezuela, which he could use to produce more himself. He said, “I’m not claiming for you that Venezuela alone can fill the void created by some of the events that are happening around the world, but I think that over time it certainly can and it certainly can help in the short term.”

The US Secretary of State said that this is one of the topics that we will discuss. We have discussed this with India in the past as well and they seem to be willing. They are willing to do so. There may be some obstacles in the form of restrictions etc., which we have to overcome. Rubio said the US delegation would discuss oil production in Venezuela with Reliance. He claimed that India has made significant progress in diversifying its oil purchases, which is a wise move.

India-US trade agreement may be announced soon

Rubio also expressed confidence that an India-US trade deal could be finalized soon. He said that now only a few issues remain to be resolved. “I would say we are very close to finalizing the agreement,” he said. There are just a few things left to sort out, so I think it will happen soon. His statements come at a time when New Delhi and Washington are trying to advance trade talks and iron out differences on tariffs, market access and other economic issues.

Rubio and Jaishankar met in Mumbai

Foreign Minister S. Jaishankar met Rubio in Mumbai on Tuesday. US Ambassador to India Sergio Gore and Foreign Secretary Vikram Mistry were also present in this meeting. Rubio arrived in Mumbai on October 20 on a three-day visit. Energy cooperation, trade talks and broader bilateral relations between the two countries are expected to be mainly discussed during the visit.

On Wednesday, October 21, he is scheduled to visit Reliance Industries Limited’s refinery in Jamnagar, Gujarat. These refineries are the largest single-location refinery complex in the world. He is also likely to meet Reliance Chairman Mukesh Ambani.

This is Rubio’s second visit to India this year at a time when bilateral relations between the two countries are somewhat strained. During his last visit in May, he interacted with Prime Minister Narendra Modi and Jaishankar and also attended a meeting of foreign ministers of the ‘Quad’ countries.