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

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