Marco Rubio calls India a 'refining superpower', says it is ready to process more Venezuelan oil

US Secretary of State Marco Rubio on Tuesday said India was willing to help process more Venezuelan crude oil as production from the South American country increases, although sanctions-related restrictions would need to be addressed. Speaking in Mumbai, Rubio described India as a "refining superpower" with the capacity to process heavy crude, according to news agency ANI. "India is a refining superpower. They have the capability to refine heavy crude. They've done so in the past, and I think as more and more Venezuelan oil comes online, it's something they can do," Rubio said. #WATCH | Mumbai, Maharashtra: On being asked what role India can play in meeting the world's energy demand, US Secretary of State Marco Rubio says, "... India is a refining superpower. They have the capability to refine heavy crude. They've done so in the past, and I think as more and more Venezuelan oil comes online, it's something they can do. They also, by the way, have pre-existing oil concessions in Venezuela that can produce more themselves. So, all these are positive things. I'm not claiming to you that Venezuela alone can fill the hole that could be caused by some of the things that are happening around the world, but I think over time, it most certainly can, and in the short term, it can certainly help. So, that's one of the things we'll talk about. With India, we've talked about it in the past, and they sound ready. They're willing to do it. There might be a few impediments that stand in the way in terms of sanctions and so forth that we'll have to work through..." -- ANI (@ANI) October 20, 2026 He also pointed to India's existing oil concessions in Venezuela, saying Indian companies could increase production from those assets. "With India, we've talked about it in the past, and they sound ready. They're willing to do it," Rubio said, adding that sanctions and other restrictions remained issues that Washington and New Delhi would have to work through. Rubio said additional Venezuelan supplies could help address disruptions in global energy markets, although the country alone could not immediately make up for shortages elsewhere. He said Venezuela could contribute more substantially over time while providing some relief in the near term. India's existing oil ties with Venezuela India has already resumed purchases of Venezuelan crude following an easing of US restrictions earlier this year. According to Reuters, India was Venezuela's second-largest oil buyer in May, importing about 427,000 barrels per day. Purchases had been suspended in 2025 after US President Donald Trump announced a 25 percent tariff on countries importing Venezuelan oil. In February, the Ministry of External Affairs said India remained open to sourcing crude from Venezuela and other countries based on commercial viability. MEA spokesperson Randhir Jaiswal said diversifying energy supplies in line with market conditions was central to India's energy security strategy. India also has investments in Venezuela's upstream oil sector. State-owned ONGC Videsh holds a 40 percent stake in the San Cristobal field, while Indian companies collectively hold an 18 percent interest in the Carabobo-1 project. In August, ONGC finance director Anupam Agarwal said the company was seeking agreements to operate Venezuelan oil blocks under the country's revised petroleum law. Sanctions and global supply backdrop The US Treasury amended its Venezuela-related oil licences in September, permitting specified transactions involving Venezuelan crude, including refining and exports, subject to conditions. Rubio's remarks come amid continuing disruptions to energy supplies from West Asia, including shipping through the Strait of Hormuz. His India visit also follows Washington's decision last week to waive potential tariffs on Indian imports linked to purchases of Russian oil. Rubio is scheduled to meet External Affairs Minister S Jaishankar.