Reliance Industries, an Indian multinational conglomerate, has become a primary buyer of Venezuelan crude oil outside of the United States, according to September 2026 energy tracking data. The majority of India’s total crude imports from Venezuela that month were directed to Reliance’s Jamnagar refinery complex.
Data provided by the analytics firm Kpler shows that India imported 257,000 barrels per day (bpd) of crude oil from Venezuela in September. Of that volume, Reliance Industries purchased approximately 76%, or around 195,000 bpd.
According to Sumit Ritolia, a lead research analyst at Kpler, Reliance’s refining capabilities make it a suitable destination for Venezuelan oil. “Reliance’s Jamnagar complex has been the main destination for Venezuelan crude in India, and we expect it to remain the primary buyer,” Ritolia stated. He added that heavy and extra-heavy grades of Venezuelan crude are not compatible with all of India’s refineries, but the Jamnagar facility is “particularly well configured for these barrels.” The Jamnagar refinery is described by Reliance as the world’s largest single-site refinery, with a processing capacity of 1.4 million bpd.
These purchases occur in the context of other international energy dealings. In March 2026, former U.S. President Donald Trump announced plans for the construction of a new oil refinery in the United States, which he stated would include investment from Reliance Industries. In a social media post, Trump referred to the project as a “$300 BILLION DOLLAR DEAL.” Reliance Industries has not publicly confirmed the specific amount of its planned investment.
India also continues to be a major importer of Russian crude oil. U.S. legislation has authorized the potential for tariffs on countries purchasing Russian energy. The Indian government has publicly stated that its energy procurement decisions are based on the country’s energy security needs.
Kpler data indicates that India’s imports of Russian crude in September were 1.82 million bpd, a volume significantly larger than its imports from Venezuela during the same period. Ritolia noted that while oil supplies from Russia to India have decreased from levels seen in June and July, this change is driven more by market competition than by external pressures.
For October, Kpler reports that approximately 350,000 bpd of crude from Venezuela is scheduled to be shipped to India. Ritolia mentioned that due to long transit times, some of these shipments may arrive in November.
