Reliance Industries Becomes Top Venezuelan Crude Buyer Outside U.S.
Mukesh Ambani's Reliance Industries has become the largest buyer of Venezuelan crude oil outside the United States, according to Kpler data. In September, India imported 257,000 barrels per day from Venezuela, with 76% going to Reliance’s Jamnagar refinery complex — one of the world’s most advanced and capable refineries. This development comes amid U.S. President Donald Trump's push for Indian companies like Reliance to increase their purchases of Venezuelan oil. In March, Trump announced a proposed $300 billion investment by Reliance in building America’s first new refinery in 50 years — though the company has not confirmed this figure. Reliance is also heavily involved in purchasing Russian crude amid U.S.-India tensions over energy imports from Moscow. Despite pressure to reduce reliance on Russian oil, India continues prioritizing cost-effective and secure supplies.
Topics: India-US energy relations Reliance Industries Venezuelan crude oil