Bharat Petroleum, HMEL turn to Venezuelan crude as India reduces Russian oil purchases: Report
India’s BPCL and HMEL have each acquired one million barrels of Venezuelan crude, marking significant new imports for the nation. This move, facilitated by trader Vitol, boosts India’s Venezuelan oil intake as refiners pivot away from Russian supplies. The purchases are part of a broader trend of increased Venezuelan oil exports, with US refiners also scaling up their purchases.🕒 1 min read
India’s BPCL and HMEL have each acquired one million barrels of Venezuelan crude, marking significant new imports for the nation. This move, facilitated by trader Vitol, boosts India’s Venezuelan oil intake as refiners pivot away from Russian supplies. The purchases are part of a broader trend of increased Venezuelan oil exports, with US refiners also scaling up their purchases.
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