Ambani Said to Mull $2 Billion Venezuela Spend: Corporate India

Reliance Industries Ltd. plans to spend more than $2 billion on Venezuelan oil fields, betting President Hugo Chavez’s failing health won’t lead to political upheaval, said a person with direct knowledge of the decision.

The operator of the world’s biggest refining complex is jointly assessing investments in four oilfields in the South American nation with state-run company Petroleos de Venezuela SA, said the person, who asked not to be identified, citing confidentiality terms. Reliance is waiting for data on the blocks from PDVSA, as Petroleos de Venezuela is called, to start the due diligence process, the person said.