RIL seeks clarity on Venezuelan oil after US military move

Business Jan 08, 2026

Reliance Industries (RIL) is awaiting clarity on whether it can access Venezuelan crude oil, after a recent US military operation made things uncertain.
Indian oil companies like RIL, Nayara Energy, and MRPL have historically sourced Venezuelan crude oil, but new geopolitical tensions and infrastructure issues are making things tricky.

Why this matters for India's energy

Venezuela used to be a big player in India's oil mix—making up 6.7% of imports in FY18—but that's dropped to just 0.3% by FY26 as production fell sharply.
Indian refineries can handle heavy crude, but processing Venezuela's extra-heavy grades isn't easy for everyone.
As Sumit Ritolia from Kpler points out, not all refineries are set up for these tougher oils.