Veytics Intelligence
2026-10-08 · CNBC

Indian billionaire's firm backing Trump refinery plan emerges top Venezuelan oil buyer outside U.S.

Indian billionaire Mukesh Ambani's Reliance Industries , which is investing in a historic U.S. oil refinery project proposed by President Donald Trump, has now emerged as the biggest buyer of Venezuelan crude outside the U.S. Trump has been pushing India to buy more Venezuelan oil , but while state-owned oil companies are making opportunistic purchases, Reliance has been the primary buyer, according to Kpler data shared with CNBC. It shows that outside the U.S., India is the biggest destination for these supplies, with Reliance purchasing the bulk of that crude.

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