Business · India Bureau
US eyes Venezuelan crude refining deal with Reliance, praises India's energy diversification
U.S. Secretary of State Marco Rubio has indicated Washington will explore refining Venezuelan crude oil through Reliance, while commending India's efforts to diversify its energy supply sources. The official also signalled that bilateral trade negotiations between the two nations are nearing completion.
LSN India ·
The United States is prepared to engage in discussions with Indian conglomerate Reliance Industries regarding the refining of Venezuelan crude oil, according to remarks by U.S. Secretary of State Marco Rubio. The overture represents a potential shift in energy partnerships as Washington seeks to manage global crude supplies amid geopolitical tensions.
Rubio lauded India's progress in broadening its energy portfolio beyond traditional suppliers, describing the country's diversification efforts as "substantial." India, which relies heavily on imported crude to meet domestic demand, has increasingly sought to balance its energy sources and reduce dependency on any single supplier.
In separate remarks, Rubio indicated that the United States and India are "very very close" to finalising a long-pending bilateral trade agreement. The deal has been under negotiation for several months and is expected to address tariffs, intellectual property protections, and market access across multiple sectors.
The convergence of energy cooperation and trade negotiations underscores deepening ties between New Delhi and Washington as both nations navigate complex geopolitical dynamics in South Asia and beyond. Officials from both countries have signalled commitment to strengthening economic and strategic partnerships.