CommoditiesMedium•8 October 2026•
1 min read
Reliance Drives India's Venezuelan Oil Imports to 7-Year High
Key Facts
1Reliance Industries is leading a major rebound in Indian crude oil imports from Venezuela following years of abstention due to U.S. sanctions.
2Reliance Industries accounts for more than three-quarters of all Indian crude oil purchases from Venezuela.
Reliance Industries is leading a major rebound in Indian crude oil imports from Venezuela following years of abstention due to U.S. sanctions. Oilprice.com reported that the company accounts for more than three-quarters of all Indian crude oil purchases from Venezuela, pushing the country's total imports to a seven-year peak.
The company is leveraging its Jamnagar refining complex, the world's largest, to process heavy Venezuelan crude as trade flows normalize. RIGD.L closed at $48.55 on October 8, 2026, with the stock trading between a day low of $48.35 and a high of $48.7 during the session.