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Reliance Industries to pay for Venezuelan crude oil via exports of diesel

Reliance Industries is going to pay for Venezuelan crude oil via exports of diesel in a barter arrangement as it resumed taking supplies from the US sanctions-hit Latin American nation after a gap of four months. Reliance had in March capped oil purchases from the Latin and halted selling diluent.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.