Current Affairs - International - Discussion

Reliance Industries Limited has obtained a general licence from the United States government that enables it to directly import crude oil from Venezuela without violating U.S. sanctions, a significant development for India’s energy sector. This move diversifies Reliance’s crude supply options, especially for heavy crude suited to its Jamnagar refinery, which is among the world’s most complex refining facilities. The licence boosts refining flexibility and supports India’s energy security by allowing the company to access discounted heavy Venezuelan crude, improving feedstock options and potentially lowering refining costs, while navigating shifting global geopolitics.