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RIL, Nayara Energy plan to wind down Venezuelan oil buys in April

India accounted for about a third of Venezuela's oil shipments in January

Topics
Reliance Industries | Nayara Energy | Venezuela

Reuters 

Indian refiners Reliance Industries and Nayara Energy are planning to wind down purchases of Venezuelan oil in April fearing future US sanctions could choke off all avenues to trade with state-run oil firm PDVSA, three sources with knowledge of the matter said. Such a step by Reliance, which operates the world's biggest refining complex, and Nayara - part owned by Russian oil major Rosneft - would severely curtail purchases by one of Venezuela's last big export destinations. India accounted for about a third of Venezuela's oil shipments in January. The move comes as ...

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First Published: Fri, February 28 2020. 14:27 IST
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