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IOC Would Consider More Venezuelan Oil If Sanctions Eased

OIL

Indian Oil Corp (IOC) will consider Venezuelan oil purchase if the US continues to relax sanctions according to the company’s chairman Shrikant Madhav Vaidya.

  • IOC is set to receive a Venezuelan cargo next month according to LSEG data and also received one last month.
  • "We will consider buying Venezuelan oil if the relief provided now stays and if Venezuelan crude makes commercial sense for us," he said.
  • LSEG does not see IOC or Reliance lifting Venezuelan oil in April.

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