Reliance Industries is increasing its purchases of crude oil from Venezuela, according to reports from October 2026. The Indian conglomerate currently handles the bulk of these imports, making India the largest destination for Venezuelan oil outside of the United States. Simultaneously, the billionaire behind Reliance is also investing in a refinery project associated with Donald Trump.

Key facts

  • Reliance Industries is the primary buyer of Venezuelan oil in India.
  • India is the top importer of Venezuelan crude outside the U.S.
  • The billionaire leading Reliance is also an investor in a refinery project linked to Donald Trump.
  • The purchases of Venezuelan crude are currently increasing.

CNBC

Source: CNBC World News — Read original story