Reliance Drives India’s Venezuelan Oil Imports to Seven-Year High

Reliance Industries is leading a major rebound in Indian crude oil imports from Venezuela, with more than three-quarters of all purchases from the South American country going to India’s biggest private refiner. Reliance Industries, owned by Indian billionaire Mukesh Ambani, operates the world’s largest crude oil processing complex at Jamnagar, which has the capacity to process 1.4 million barrels per day (bpd) of crude oil. Following years of abstention from Venezuelan crude while U.S. sanctions were in place, Reliance…