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Marco Rubio to visit Jamnagar - Why US needs Reliance Industries to process Venezuelan crude amid record diesel prices?

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Context

What happened: US Secretary of State Marco Rubio visits India from October 20 to 21 and will travel to Jamnagar to meet Reliance Industries Chairman Mukesh Ambani on Wednesday. Key numbers: Visit dates October 20 to 21. Jamnagar refineries have combined capacity of about 1.4 million barrels per day. Why it matters: The US is seeking to expand diesel supply sources amid shortage concerns and fuel price rises linked to the war with Iran. Reliance has a long history of refining heavy Venezuelan crude, and Rubio said more Venezuelan oil coming online is something Reliance can process.

What changed

US Secretary of State Marco Rubio visits India from October 20 to 21 and will travel to Jamnagar to meet Reliance Industries Chairman Mukesh Ambani on Wednesday.

Why it matters

The US is seeking to expand diesel supply sources amid shortage concerns and fuel price rises linked to the war with Iran. Reliance has a long history of refining heavy Venezuelan crude, and Rubio said more Venezuelan oil coming online is something Reliance can process.

Sources

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