New Refinery to be Built in the US After 50 Years: Marco Rubio to Meet Mukesh Ambani Today; Discussions to Focus on Refining Venezuelan Crude Oil
US Secretary of State Marco Rubio will visit the world’s largest refinery complex in Jamnagar today. During his visit, he is scheduled to meet with Mukesh Ambani, Chairman and Managing Director of Reliance. Rubio will hold discussions with Reliance regarding the refining of Venezuelan crude oil.
According to media reports, Reliance Industries is preparing to make a significant investment in an oil refinery in Texas, USA—a project that would mark the first new refinery to be built in the United States in 50 years. This makes the meeting particularly significant.
Rubio’s visit to Jamnagar is significant for three reasons:
1. Diesel Prices in the US Exceed 155 Rupees per Liter
In the United States, diesel prices have climbed above $6 per gallon—roughly equivalent to 155 rupees per liter. This has caused distress among truck drivers, farmers, and the freight and logistics sector.
The Trump administration aims to ensure an adequate supply of diesel in the US ahead of the midterm elections on November 3. Consequently, the US has been sourcing diesel from Russia.
Reliance could potentially refine crude oil and supply petrol and diesel to the US at competitive prices, helping the country avert a fuel crisis.
2. Reliance’s Continued Purchase of Venezuelan Oil
Since the arrest of Venezuelan President Nicolás Maduro in January, the US government has been overseeing the sale of Venezuelan oil abroad.
Reliance stands as one of the largest buyers of Venezuelan oil. According to global trade intelligence firm Kpler, India imported 257,000 barrels of oil per day from Venezuela in September, with Reliance accounting for 76% of that volume. The United States wants Reliance to purchase more oil from Venezuela—a request it has made to India on several occasions. State-owned oil companies in India, however, have not followed suit.
3. Reliance’s $300 billion investment in the United States
Reliance is establishing a new refinery in the U.S. state of Texas, which will be the first refinery built in the United States in 50 years.
In March 2026, U.S. President Donald Trump referred to this as a $300 billion deal. The U.S. is keen for this investment to materialize as soon as possible.
Jamnagar: The world’s largest refinery complex
According to Reliance, the Jamnagar refinery is the world’s largest and most modern refinery complex located at a single site. It has the capacity to process 1.4 million barrels of crude oil per day.
Rubio calls India a “refining superpower”
Upon his arrival in Mumbai on Tuesday, Rubio described India as a “refining superpower.” He stated, “India possesses a significant capacity to refine heavy crude oil from Venezuela. Indian refineries can play a crucial role in alleviating the global oil crisis. India and the U.S. will work together to overcome legal and sanction-related hurdles affecting oil supplies.”
Rubio’s second visit to India since May
This marks Marco Rubio’s second visit to India, following his previous trip in May. During that visit, he met with Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar, and also participated in a meeting of the Quad foreign ministers.
Meetings with Adani and the Chairman of the Tata Group
Before departing for Gujarat, the U.S. official is scheduled to meet with other prominent Indian industrialists. He will hold discussions with Gautam Adani and N. Chandrasekaran, Chairman of the Tata Group. These conversations will focus on enhancing trade and investment between the two nations.
