Indian refiner Reliance Industries (RELI.NS) is scheduled to resume loading Venezuelan oil in October after a four-month pause, according to sources and internal documents from PDVSA seen by Reuters, a move that could help the state-run Venezuelan firm drain its high oil inventories.
A spokesperson for Reliance said on Wednesday it has been supplying Venezuela with permitted fuels, including diesel, under U.S. sanctions and so it “is able to recommence crude sourcing.”
“These are actions compliant to U.S. sanctions as crude sourcing against supply of permitted products is allowed,” the spokesperson said in a email to Reuters. Read More
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