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India's Reliance Seeks Venezuelan Oil Waiver

OIL

Indian refiner Reliance Industries has submitted a request to the U.S. for a waiver to import sanctioned Venezuelan oil.

  • The U.S. did not renew the general license to export oil and gas from Venezuela which expired April 18. They gave 45 days to companies to wind down transactions but said individual authorisations would be issued – seemingly what Reliance is trying to obtain.
  • Reliance pulled in a handful of cargoes from Venezuela while the sanctions were eased.
  • The Indian refiner was one of the biggest importers of Venezuelan oil prior to sanctions.
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