Reliance To Import Crude From Venezuela

Venezuela will be exporting two million barrels of its crude oil to Reliance. This is the first consignment of crude oil from Venezuela to India in more than 20 year. The consignment is within the range of light and medium crude of Venezuela with low sluphur content. According to a press release, the consignment will be shipped from the port terminal of Jose on the east coast of Venezuela this week and is expected to arrive at the Jamnagar refinery of Reliance in the first week of June. Venezuela is a member of the Organisation of Petroluem Exporting Countreis (OPEC) and possesses vast reserves of light and heavy crude.