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Reliance Industries Ltd And Venezuelan State Oil Company Sign Crude Supply Agreement And MOU With Petroleos De Venezuela, SA

Wednesday, 3 Oct 2012 10:54am EDT 

Reliance Industries Ltd and Venezuelan state oil Company announced that they have signed a 15 year heavy crude oil supply contract and a Memorandum of Understanding (MOU) with Petroleos De Venezuela, SA (PDVSA) to further development of Venezuelan heavy oil fields. PDVSA will supply between 300,000 and 400,000 barrels per day of Venezuelan heavy crude oil to Reliance's two refineries in Jamnagar under a 15 year crude oil supply contract.