Reliance seeks U.S. permit to resume purchases of Venezuelan oil

Reliance Industries is seeking U.S. approval to resume purchases of Venezuelan crude, and its representatives are in talks with the U.S. State and Treasury departments.

Reliance Industries is seeking U.S. authorization to resume purchases of Venezuelan crude, according to two sources. Its representatives are in discussions with the U.S. State and Treasury departments. The talks come as Washington and Caracas negotiate arrangements to ship Venezuelan oil following the U.S. capture of President Nicolás Maduro. Reliance previously received U.S. licenses to import Venezuelan crude and its last cargo arrived in India in May 2025. Key facts: - Sources said Reliance is seeking U.S. approval to resume Venezuelan crude purchases. - Reliance's representatives are in discussions with the U.S. State and Treasury departments. - PDVSA delivered four cargoes to Reliance in early 2025 under prior U.S. authorizations, and the last cargo arrived in May 2025. - U.S. officials have said they will control Venezuelan oil exports and are negotiating export arrangements with Venezuela; some oil may be allowed to flow to non-U.S. buyers. Summary: Officials reported Reliance is pursuing U.S. authorization and has engaged State and Treasury officials in discussions. Negotiations between Washington and Caracas over Venezuelan exports are ongoing. The timing and outcome of any U.S. decision on permits are not specified. Undetermined at this time.