A unit of Reliance Industries has reportedly began loading a 2-million-barrel cargo of Venezuelan crude. The oil has immediately procured from state-run oil agency Petróleos de Venezuela, SA (PDVSA), in line with an organization doc and transport information on Monday, cited by Reuters.Reliance Industries secured a US normal licence in February 2026, following an software in early January, permitting it to immediately buy, export and refine Venezuelan crude with out breaching sanctions. The approval got here amid a broader easing of restrictions on Venezuela’s power sector by the administration of Donald Trump. The transfer is anticipated to assist Reliance diversify its crude sourcing, probably changing some Russian provides with discounted Venezuelan heavy oil, whereas supporting renewed oil flows from Caracas.