Private sector refiners RIL and Nayara Energy (NEL) were regular buyers of Venezuelan crude prior to imposition of US sanctions on Caracas in 2019. Following the sanctions, oil imports from Venezuela stopped.
According to data from commodity market analytics firm Kpler, India last imported Venezuelan crude in November 2020. Venezuela was New Delhi's fifth-largest supplier of oil in 2019, providing close to 16 million tonnes of crude to Indian refiners, as per India's official trade data.
In October this year, Washington eased sanctions on Venezuela's oil sector, authorising oil exports without limitation for six months.
Esta historia es de la edición December 02, 2023 de Financial Express Mumbai.
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