The Ministry of Petroleum has given its informal nod to oil-marketing companies (OMCs) for sourcing crude from Venezuela, which in October became free from certain US sanctions, officials said.
Among public sector OMCs, BPCL is the first one to have placed purchase orders, they said. IOCL and Reliance Industries have bought Venezuelan oil in the past.
The decision has been taken even as more Indian refineries become capable of handling the ultra-heavy Merey-16 grade of crude from the South American country, the officials added.
