Indian refiner Reliance Industries has begun loading a 2-million barrel cargo of Venezuelan crude oil directly bought from the state-owned oil company PDVSA, Reuters reported on Monday.
Reliance is reportedly one of the few companies that has so far received a general license from the United States allowing it to buy Venezuelan oil under strict U.S. oversight and without violating existing U.S. oil sanctions on PDVSA. Other countries that have received such licenses reportedly include Chevron, ExxonMobil, and Spain’s Repsol.
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