Following is an excerpt from a report in Times of India.

Venezuela’s national oil company PdVSA is in talks with IndianOil Corporation for taking up to 49% stake in a 15 million tonne refinery the flagship Indian refiner-marketer is building in Orissa’s Paradip at an investment of a little under Rs 30,000 crore.

“We have received interest from PdVSA. We are evaluating the offer,” a senior company executive, requsting anonymity, said on the sidelines of the 19th World Petroleum Congress here. “We want a partner not for money but for some value. In this case, PdVSA has said it can supply Venezuelan crude to the refinery. IndianOil would look at getting at least half, or 7.5 million tonnes, of Paradip refinery’s crude requirement from Venezuela.”
…

there are other factors that could work for the PdVSA deal. Venezuelan crude is one of the toughest to process and needs refineries with high complexity ratings. IndianOil has designed the Paradip unit to accept the toughest, heaviest and the dirtiest crudes. “Our refinery will have a Nelson Complexity Index of 15,” the IndianOil executive said. Reliance Petroleum’s upcoming export refinery at Jamnagar, which is billed the most advanced, is rated at 14. Besides, India offers strategic locational advantage from where exports can even happen to as far as the US.