Rubio Calls India Refining Superpower Amid Global Energy Crunch — SkimNews
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Marco Rubio called India a 'refining superpower' after visiting Reliance’s Jamnagar refinery, highlighting its strategic importance to US energy trade and global supply stability
- India ranks as the world’s fourth-largest crude refiner with 258 MMTPA capacity and aims to expand to 309.5 MMTPA by 2030, supported by government-backed projects and private investment
- Reliance Industries operates the world’s largest single-site refinery in Jamnagar, capable of processing 1.4 million barrels per day, including heavy Venezuelan and discounted Russian crude
- Indian petroleum exports rose 37% year on year to over $41.18 billion from April to September, with surging shipments to Singapore, ASEAN, Africa, Europe, and the US
- US sanctions policy shifted under Trump, who waived Russia-related penalties to allow Indian imports of Russian diesel, while encouraging Indian refiners to process more Venezuelan crude
- India’s refining advantage stems from its ability to process diverse crude types and maintain high utilization rates, though it faces risks from import dependency, sanctions, and rising domestic demand
Why it matters: India’s refining capacity gives it outsized influence in global fuel markets just as US and European supplies tighten, allowing refiners to capture stronger margins while Washington leverages Indian capacity to counter energy shocks from conflicts and sanctions—though growing domestic demand may limit export gains.
Ask SkimNews
