New Delhi, June 9 (IANS) The visit of Venezuela’s Acting President Delcy Rodriguez to India from June 3-6 has opened up an opportunities for bilateral cooperation in energy, critical minerals as well as the automotive and pharma sectors between the two countries, according to a new report.Venezuela has among the world’s largest oil reserves and with India importing as much as 88 per cent of its oil requirements and looking to new sources, it is eyeing Venezuelan oil.According to an article i…
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New Delhi, Feb 5 (IANS) Reiterating that ensuring energy security remains a top national priority, India on Thursday said that the government’s strategy to diversify energy sources is shaped by market conditions and evolving international dynamics. “In so far as India’s energy security or energy sourcing is concerned, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is its supreme priority. Diversifying energy sourcing in keepin…
New Delhi, Jan 6 (IANS) Any increase in the production of oil from Venezuela by US companies has the potential of lowering crude prices in the international market, benefiting all countries, including India. However, analysts are of the view that there is still too much geopolitical uncertainty in the region for large investments to pour into the Latin American country.Unlike China, India is not a big importer of Venezuelan crude, which is heavy and tar-like, making it costly to refine into petr…
New Delhi, Jan 5 (IANS) The US capture of Venezuela’s President Nicholas Maduro and taking over its oil fields could lead to Indian refineries benefiting from imports of heavier Venezuelan barrels, which trade at a discount to Brent, boosting their gross refining margins, a report showed on Monday.The report from Choice Institutional Equities said that India previously imported up to 400 thousand barrels per day (KBD) of Venezuelan crude and that access to equipment and investments could be gr…