According to CNBC, Reliance Industries has become the largest buyer of Venezuelan crude outside the U.S. as the Indian company backs a proposed U.S. refinery project linked to President Donald Trump. Kpler data shared with CNBC showed that India was the biggest destination for Venezuelan supplies outside the U.S., with Reliance taking the bulk of the crude.

Kpler said Reliance's Jamnagar complex has been the main destination for Venezuelan crude in India and is expected to remain the primary buyer. In September, India imported 257,000 barrels per day of Venezuelan crude, and 76% of that volume went to Reliance Industries, according to the data. Reliance says the Jamnagar refinery is the world's largest and most complex single-site refinery, with crude processing capacity of 1.4 million barrels per day.

Trump announced in March that the U.S. would build its first refinery in 50 years with investment from Reliance Industries and thanked the company for what he called a tremendous investment. Reliance has not confirmed the size of the investment, while Trump later said in a Truth Social post that it was a historic $300 billion deal. The company is India's most valuable, with a market capitalization of more than $169 billion.

The purchases come as India's imports of Russian oil have drawn criticism in Washington, where lawmakers have given Trump the power to impose tariffs of up to 100% on countries buying energy from Moscow. India has said its energy decisions are driven by the need to ensure energy security. Kpler said India's Russian oil imports moderated in September from exceptionally high levels in June and July, mainly because of stronger competition between Beijing and New Delhi. India remained the largest destination for Russian crude at 1.82 million barrels per day in September, ahead of China's 1.49 million barrels per day. For October, 350,000 barrels per day of Venezuelan crude are bound for India, though some cargoes may arrive in November because of the long voyage time.