The Indian firm Reliance Industries Ltd has recommenced acquiring Venezuelan crude after a considerable break.
India will replace Russian oil / © Associated Press
The Indian corporation Reliance Industries Ltd, which runs the planet’s biggest petroleum refining facility, has secured petroleum from Venezuela as opposed to Russia for the initial occasion in a lengthy duration.
Bloomberg announces this information, referencing its own informants.
As per the news outlet, the entity procured a supertanker holding roughly 2 million barrels of Venezuelan petroleum.
It’s highlighted that this marks the initial such procurement since the middle of 2025. Furthermore, this constitutes the initial acquisition of Venezuelan resources by an Indian customer following the US detention of Venezuelan strongman Nicolas Maduro.
Following the commencement of Russia’s comprehensive warfare against Ukraine, Reliance Industries notably augmented the volume of Russian oil acquired and evolved into its primary customer within India.
By the conclusion of 2025, the business represented nearly 50% of all Russian petroleum procured by the nation.
Previously, reports indicated that the United States is suggesting the revival of Venezuelan petroleum sales to India to substitute for that nation’s imports of Russian petroleum.
We had previously announced that US President Donald Trump communicated that, throughout a phone dialogue with Indian Prime Minister Narendra Modi, the parties achieved a consensus on modifications to New Delhi’s energy strategy.