Reliance Industries’ US subsidiary has completely stopped all oil exports to Venezuela’s national oil company PDVSA and will not resume sales until sanctions are lifted. Reliance, whose twin refineries at Jamnagar in Gujarat were a major importer of Venezuelan crude oil, has reduced purchases by about a third.
Since the US government imposed sanctions on the Government of Venezuela in late January 2019, Reliance Industries has been in close contact with representatives from the US State Department to ensure full compliance.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
