India’s Reliance More Than Doubles Latin America Crude Oil Import

by Dave

BusinessWeek

Reliance Industries Ltd., owner of the world’s biggest refining complex, more than doubled Latin American crude oil imports this year as slack U.S. demand increased supplies, JBC Energy GMbh said.

Reliance bought 380,000 barrels a day of crude from Venezuela, Mexico and Brazil and other smaller suppliers from January to April, compared with 155,000 barrels a day during all of 2009, the Vienna-based energy consultancy said in an e-mailed report today.

Venezuela accounted for 59 percent, Mexico 21 percent and Brazil 14 percent of Reliance’s Latin American crude imports, the consultancy said.

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