Skip to content
Subscriber Only

Venezuela Oil Crisis Deepens With India Refiners Halting Imports

  • Reliance, Nayara last bought Venezuelan crude in March
  • Nation loses clients as oil exports plunge to 73-year low
India Slashes Oil-Refining as More Cuts Seen on Lockdown
Photographer: Dhiraj Singh/Bloomberg
Updated on

India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.

Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar and accounted for 25% of Venezuela’s exports last year, has no plans at the moment to make future purchases, according to people with knowledge of the situation who asked not to be identified because the information isn’t public.