Reliance renews bid for US license to import Venezuelan oil: Sources
Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for its oil.
French oil producer Maurel & Prom separately on Monday said the U.S. on Friday granted it a license to conduct oil and gas operations in Venezuela for the next two years.
The U.S. in April did not renew a general license for Venezuela to export oil and fuel to its chosen markets, and gave 45 days to companies to wind down transactions. But the U.S. had said some individual authorizations to foreign firms seeking to do oil business with Venezuela would be issued.
The license had broadly eased Venezuela oil sanctions first imposed in 2019, moving to reimpose punitive measures in response to President Nicolas Maduro's failure to meet his election commitments.
After the easing of sanctions in October, Reliance and other Indian companies that have business in the past with Venezuela previously applied to the U.S. Treasury for individual authorizations. Those were not granted.
Indian refiners, however, resumed Venezuelan oil purchases through intermediaries. Since October, Reliance has chartered at least one supertanker to buy crude from state-run oil company PDVSA. It also received Venezuelan oil cargoes from third parties, according to internal PDVSA documents viewed by Reuters.
Before U.S. oil sanctions were first imposed on
