More Indian Refiners Take Venezuelan Oil as US Reshapes Flows

Indian Oil Corp. and Hindustan Petroleum Corp. jointly bought a cargo of Venezuelan crude, marking a second deal on the trade by the nation’s processors after Reliance Industries Ltd. snapped up a shipment.

The country’s largest state-owned refiner and its smaller counterpart purchased 2 million barrels of Merey crude, according to people familiar with the matter, asking not to be identified speaking about confidential information. Oil will be delivered to IOC’s Paradip refinery and HPCL’s Visakhapatnam plant, they said.