The Reliance Venezuela oil deal can have a positive effect on India’s energy supply.
Reliance Industries has secured a crucial US license to import crude directly from Venezuela, marking a major win for India’s energy security. This Reliance Venezuela oil deal follows a shift in Washington’s policy, allowing the Jamnagar refinery to process cheaper, heavy crude once again. By resuming these imports, Reliance can reduce its dependence on more expensive sources while potentially replacing some Russian oil shipments. The move aligns with India’s broader strategy to find the most cost-effective energy wherever possible.
- The US Treasury (OFAC) granted Reliance a general license to trade Venezuelan oil.
- Direct imports will help lower costs for the world’s largest refining complex in Jamnagar.
- This deal is partly linked to US trade talks and reducing Russian oil purchases.
- Venezuelan heavy crude is a perfect match for Reliance’s advanced refinery setup.
👉 Why this matters: Lowering oil costs due to the Reliance Venezuela oil deal will help stabilize fuel prices and give India more leverage in global trade.
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Written and summarized by our editorial team using human review & a bit of AI assistance. Edited & Approved by Debraj Paul, Founder of ArticoliNews Media-Tech