Indian companies are projected to receive 13.6 million barrels of Venezuelan crude oil during the month of October, a figure that exceeds the 10.2 million barrels received in May, according to the firm S&P Global.
“It is expected for October to unload a total of 13.6 million barrels of Venezuelan-origin crude—including volumes currently in transit— at Indian ports, following the discharge of 10.2 million barrels in May…” the firm stated on its website.
S&P Global highlighted that this “indicates a sharp, short-term increase in flows,” noting that total imports of Venezuelan crude have averaged 190,000 barrels per day in 2026. Eighty percent of this volume is delivered to the port of Sikka.
The head of liquid bulk at Chemical Abstracts Service (CAS), Benjamin Tang, noted that Reliance Industries Limited remains the largest buyer.
Tang pointed out that “further growth could be constrained by India’s relatively modest capacity for processing heavy crude, as only a small number of its refineries are equipped to handle grades such as Merey-16.”