India's Petroleum Minister, Hardeep Singh Puri, has welcomed the return of Venezuelan oil to the market after the easing of sanctions. While not confirming if India has resumed purchases, Puri stated that Indian refineries have the capacity to process heavy crude oil from Venezuela. This move would help India diversify its oil import sources, which currently heavily rely on the Middle East and Russia. Puri also expressed hope that the easing of sanctions would enable India to recover unpaid dividends from an oilfield in Venezuela.India welcomes return of Venezuelan oil to market: Puri
December 15, 2023
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India's Petroleum Minister, Hardeep Singh Puri, has welcomed the return of Venezuelan oil to the market after the easing of sanctions. While not confirming if India has resumed purchases, Puri stated that Indian refineries have the capacity to process heavy crude oil from Venezuela. This move would help India diversify its oil import sources, which currently heavily rely on the Middle East and Russia. Puri also expressed hope that the easing of sanctions would enable India to recover unpaid dividends from an oilfield in Venezuela.
