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For HPCL, this marks its first buy of Venezuelan crude. The seller is commodity dealer Trafigura, the sources mentioned. The cargo shall be shipped on a single very massive crude service (VLCC), with IOC lifting round 1.5 million barrels and HPCL taking about 500,000 barrels. India’s state-run refiners have turned to Venezuela for contemporary crude supplies as they recalibrate sourcing methods.

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The operations accelerated after President Trump announced a “complete blockade” of sanctioned oil tankers entering or leaving Venezuela in mid-December. U.S. officials say the community has repeatedly shifted vessel names, flags, and ownership structures to evade enforcement whereas continuing to maneuver sanctioned Russian, Venezuelan, and Iranian oil. Essential news coupled with the best maritime content sourced from throughout the globe.

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