Reliance Industries Ltd., the operator of the world's largest refining complex in Jamnagar, Gujarat, will consider buying Venezuelan oil if permitted for sale to non-US buyers.
“We await clarity on access for Venezuelan oil by non-US buyers and will consider buying the oil in a compliant manner,” a spokesperson for India's biggest company said in response to a Reuters email seeking comments.
The United States and Venezuela have reached a deal this week to export up to $2 billion worth of Venezuelan crude oil—some 30-50 million barrels—to the US after American forces captured President Nicolas Maduro on 3 January.
Reliance Industries stopped buying Venezuelan oil from March 2026 after the US announced a 25% tariff on nations buying crude from the South American nation. The conglomerate received its last parcel of Venezuelan oil in May.
The Jamnagar facility can process about 1.4 million barrels per day of crude oil. The complexity of those plants allows it to process cheaper and heavier crudes such as Merey from Venezuela.