Rubio visits Reliance refinery

U.S. Secretary of State Marco Rubio is visiting Reliance Industries' Jamnagar refinery in Gujarat to discuss refining Western Hemisphere energy supplies with Indian billionaire Mukesh Ambani's company.

World's largest single-site refinery

Reliance's Jamnagar refinery has crude processing capacity of one point four million barrels per day and is the world's largest and most complex single-site refinery.

U.S. pushes Venezuelan crude purchases

Rubio said the U.S. wants to work with Reliance to refine crude from the Western Hemisphere, particularly Venezuelan oil. Reliance is already the biggest buyer of Venezuelan crude outside the U.S.

“I think that's helpful to India, but it's also helpful to us.”

India as refining superpower

Rubio underscored Reliance's ability to refine heavy crude and referred to India as a refining superpower when asked about the country's role in meeting global energy demand.

Reliance's U.S. refinery investment unclear

Trump announced in March that Reliance would help build America's first new oil refinery in fifty years. Trump claimed it was a three hundred billion dollar deal, but Reliance has never confirmed the investment size.

“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL, THE BIGGEST IN U.S. HISTORY.”

Diesel prices and election timing

Rubio's visit comes as diesel prices have surged in the U.S. with midterm elections looming. Diesel prices, which affect truckers, farmers and shippers, are expected to remain elevated going into next year.