As per Reuters report, On February 13, 2026, Reliance Industries Ltd received a general licence from the United States permitting direct purchases of Venezuelan oil.
The authorisation allows the Indian refiner to engage in transactions without breaching existing sanctions related to Venezuela’s energy sector.
The general licence authorises the purchase, export, sale and refining of Venezuelan origin oil that has already been extracted. This enables Reliance to directly source crude from Venezuela rather than routing transactions through intermediaries.
The development follows recent changes in US policy towards Venezuela’s energy industry. US authorities indicated that certain sanctions would be eased to facilitate oil trade arrangements and support broader energy sector activities.
Earlier in February 2026, Reliance purchased 2 million barrels of Venezuelan oil from global trader Vitol, which had also secured a US licence to market and sell Venezuelan crude. The new authorisation now allows Reliance to directly transact under permitted conditions.
Direct access to Venezuelan heavy crude may assist the company in adjusting its crude sourcing mix. Venezuelan oil grades are typically sold at a discount compared to benchmark crude prices.
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Reliance operates 2 refineries in India with a combined capacity of about 1.4 million barrels per day. The company had earlier paused purchases of Venezuelan oil in early 2025 due to sanctions.
Indian refiners, including Reliance, have also reduced Russian oil purchases for April deliveries. Changes in trade flows and tariff adjustments have influenced crude sourcing decisions in recent months.
As of February 13, 2026, at 2:39 PM, Reliance Industries share price on NSE was trading at ₹1,421.10 down by 1.92% from the previous closing price.
Reliance Industries Ltd has secured a US general licence enabling direct purchases of Venezuelan oil. The move follows policy adjustments in the US and allows the company to resume transactions in Venezuelan crude within the authorised framework.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 13, 2026, 4:21 PM IST
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