Reliance Industries is in talks with the United States government to get approval to resume imports of oil from Venezuela, according to people familiar with the matter. The move comes as global oil markets shift rapidly and India seeks to secure steady crude supplies amid changing geopolitics, reports Reuters.
Reliance has approached officials in the US State and Treasury departments to seek permission to buy Venezuelan crude after Washington suspended most licences that previously allowed such imports. The firm wants clarity on whether it can legally source Venezuelan oil for its refineries.
Reliance had imported about 63,000 barrels per day of Venezuelan crude in early 2025 under US licences, but deliveries stopped after most authorisations were paused. The last Venezuelan cargo reached India in May 2025.
A Reliance spokesman has said the company will consider Venezuelan crude only if sales to non-US buyers are permitted under US rules. Other Indian refiners such as Indian Oil Corp and Hindustan Petroleum have also said they will look at Venezuelan oil if allowed.
The negotiations come amid pressure from the US for India to cut back on Russian oil purchases. Reliance, one of India’s biggest buyers of Russian crude, reportedly did not receive any Russian cargo this month as the geopolitical backdrop shifted.
Venezuelan crude is heavy and cheap, and Reliance’s Gujarat refineries, with combined capacity of about 1.4 million barrels per day, are well suited to process this type of oil. Analysts say renewed Venezuelan supplies could help replace some lost Russian barrels.