By Lucia Kassai
Reliance Industries Ltd, owner of the world’s largest refining complex, signed a deal to purchase 2 million barrels of heavy Canadian oil a month for the next six months, according to people familiar with the situation, who spoke on condition of anonymity. Venezuela has been the third-largest supplier of crude to Reliance so far this year, according to data compiled by Bloomberg.
While U.S. sanctions have all but crippled Venezuela’s oil export trade, so-called crude-for-diesel swaps between national oil company Petroleos de Venezuela SA and Asian and European refiners were permitted for humanitarian reasons. The Trump administration was reported last month to be considering