By Marianna Parraga Feb 9 (Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, boosting the nation’s total production close to 1 million barrels per day (bpd), sources close to operations […]
The United States, which imposed tariffs on India last year for buying Venezuelan oil, has told Delhi it can resume those purchases soon to help replace imports of Russian oil, three sources familiar with the matter told Reuters. India pledged to slash Russian crude oil purchases after Washington also hiked tariffs related to that activity, […]
NEW DELHI: India’s average crude oil import cost fell below $60 a barrel on Monday, among the lowest it has been in five years despite global geopolitical upheavals and sanctions against three major crude oil suppliers—Iran, Russia and Venezuela. The daily average price of various crude grades (popularly known as Indian basket) dipped to $59.29 a barrel […]
The ouster of Nicolás Maduro is rewarding investors who spent years betting on a Venezuela comeback. Supporters of Nicolás Maduro and Hugo Chávez, in beret, held up their images in Caracas over the weekend after the U.S. seized Maduro. Investment firms including Fidelity and T. Rowe Price have been stuck holding tens of billions of […]
The US attack on Venezuela to dismatle the regime of President Nicolás Maduro is creating dichotomy of sorts for India—a neutral outlook for the stock market but a potential billion-dollar windfall for state-run oil producers. The US attack on Venezuela is unlikely to affect India’s stock market except oil producers, at least for the time-being. […]
The brazen and swift “capture” of Venezuelan President Nicolas Maduro by US special forces in an operation inside the Latin American country’s capital has rejigged geopolitics. And it has put the global spotlight on Venezuela’s massive natural wealth — an oil rush, if crudely stated. A flame burning natural gas is seen at a heavy-crude […]
The prices of gold and silver were on a tear for the fifth straight session today as investors continued to pile into safe-haven assets amid risks stemming from US blockade of Venezuelan crude oil shipments. Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, […]