US Turns To Reliance Amid Fuel Supply Concerns, Rubio To Meet Ambani

Marco Rubio, the US secretary of state, is in India from October 20 to 21 at the invitation of External Affairs Minister S Jaishankar. He will travel to Jamnagar on Wednesday to meet Reliance Industries Chairman Mukesh Ambani as the US looks for more diesel supply sources amid shortage fears and rising fuel prices linked to the war with Iran.

It is Rubio’s second visit to India in 2026, after an earlier trip to New Delhi in May. Reliance’s role matters because its Jamnagar complex is the world’s largest refining complex. The meeting also comes as the US weighs broader fuel supply and strategic trade options with India.

Fuel is the immediate concern. The US wants broader diesel supply options as disruption risks through the Strait of Hormuz have risen during the Iran conflict, and Reliance is one of the few refiners with the scale and technical ability to handle the crude Washington wants to bring into the system.

Venezuela Supply Strategy

Washington has turned to Venezuela. One way for the US to ease the oil-supply strain linked to the Strait of Hormuz is to refine more Venezuelan crude.

Livemint reported that, after Maduro’s capture and extradition earlier this year, Washington secured majority control of more than 65 billion barrels of proven oil reserves in Venezuela. According to the White House, Venezuela’s interim authorities granted North American Blue Energy Partners, or NABEP, a privately held oil company, a 100-year concession covering 17 oil fields.

The US has already begun processing imported heavy crude at scale. But it hasn't been able to fully use that arrangement because Venezuela’s oil infrastructure is old and poorly maintained, slowing output and handling.

Reliance Refining Capacity

Reliance fits that gap. The company has a long record with heavy Venezuelan crude.

Its two Jamnagar refineries have a combined capacity of about 1.4 million barrels per day. They are built to handle ultra-heavy, waxy and high-sulphur crude grades like those from Venezuela.

That gives Reliance a clear edge. Few refiners can handle those grades at that scale, which is why Rubio’s stop in Jamnagar matters for US fuel-supply planning.

Rubio On Refining

Rubio said, “We will talk about (refining more Venezuelan crude) tomorrow with Reliance...They have done so in the past, and I think as more and more of Venezuelan oil comes online, that is something they can do,” Rubio told reporters in Mumbai on Monday.

He also said upstream production could come up in the discussions. Asked whether he would discuss the possibility of Reliance itself producing oil with Venezuela, Rubio said the matter had been discussed in the past and would come up again.

Reliance is a major refiner of Venezuelan crude, but it is not active inside Venezuela. “We are going to go see what the holdup is and what opportunities exist...this is a company that has had a presence in Venezuela in the past, and whose refining capabilities are substantial,” he said.