Daily Market Updates: Reliance boosts India’s Venezuelan crude imports to a seven-year high

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Reliance boosts India’s Venezuelan crude imports to a seven-year high

More than three-quarters of India’s Venezuelan crude purchases went to Reliance Industries, the lead buyer in the recent import rebound.

Reported · Written up by our desk · Energy

OilPrice reports that Reliance Industries is leading a rebound in India’s crude oil imports from Venezuela, pushing purchases to a seven-year high.

The outlet said Reliance received more than three-quarters of all Venezuelan crude purchases in the period described, making India’s biggest private refiner the dominant destination.

Reliance Industries is owned by Indian billionaire Mukesh Ambani, and the company operates the Jamnagar crude processing complex.

OilPrice added that Jamnagar has capacity to process 1.4 million barrels per day.

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

Commodities

Reliance boosts India’s Venezuelan crude imports to a seven-year high

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