By Admin 
Reliance: Mukesh Ambani’s company Reliance Industries has expressed its desire to purchase oil from Venezuela. According to The Economic Times report, Reliance is seeking approval from the US to resume purchasing crude oil from Venezuela.
In fact, due to US sanctions and heavy tariffs on India, there is pressure on private refiner Reliance to purchase Russian oil and in the meantime, Reliance wants to ensure that the oil supply remains intact despite western pressure. Sources said that Reliance officials are in talks with the US State Department and the Treasury Department to get approval for the purchase of oil from Venezuela.
Reliance eyes Venezuelan oil
Sources said that Reliance representatives are in talks with the US State and Treasury departments to get approval. In fact, US President Donald Trump has said that the interim government of Venezuela will extract 30 to 50 million barrels of oil and send it to America and this oil will later be sold at market price. Due to this, now Reliance is also slowly moving forward so that it also gets the opportunity to buy oil.
Got import license last year
Reliance had earlier got the license to import crude oil from Venezuela amid the US ban for the world’s largest refining complex in Jamnagar, Gujarat. According to PDVSA’s internal records, Venezuelan oil company PDVSA delivered crude oil to Reliance at the rate of about 63,000 barrels per day in the first four months of 2025 under this license.
The US suspended the licenses of most of PDVSA’s business partners between March and April and threatened Venezuelan oil buyers with tariffs, increasing pressure on Maduro. The last cargo of oil from Venezuela for Reliance reached India in May 2025.
Apart from Reliance, other oil companies like Chevron, Vitol, Trafigura are also in the race to get license and control to import oil from Venezuela. US President Donald Trump is going to meet executives of oil companies at the White House. Let us tell you that in Venezuela, millions of barrels of crude oil are currently trapped in land based tanks and ships.
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