Topic
venezuela
Commodities India emerges as new ‘swing supplier’ of refined oil products as Middle East crisis reshapes
India is emerging as a global 'swing supplier' of refined oil products, with Singapore becoming its largest export destination at $4.3 billion. Refinery capacity expansion, discounted Russian crude and supply disruptions in Russia and the Middle East are driving the shift, according to Business-Today.
Commodities BP returns to Venezuela offshore gas with Loran Phase 2 licence award
BP has signed agreements with Venezuela to develop offshore gas, including the Loran Phase 2 exploration and production licence in the Plataforma Deltana area. BP will operate the project with equal partners XRG and UCC Oil and Gas, covering around 4 trillion cubic feet of recoverable gas. The deal marks BP's return to Venezuela's offshore gas sector as the country reopens to foreign investment.
Logistics Amazon and DHL Launch Air Bridge to Deliver Humanitarian Aid to Earthquake-Ravaged Venezuela
Amazon is utilizing its air cargo network to establish a humanitarian air bridge to Venezuela following devastating twin earthquakes, with seven weekly flights from Miami to Caracas. DHL Group has also mobilized its air network, operating three flights transporting over 109 tons of aid. The relief effort is coordinated with Airlink, the U.S. State Department, and the United Nations World Food Program.
Logistics Atlas Air, ABX Air Seek US Approval for Venezuela Cargo Flights After Seven-Year Hiatus
Atlas Air and ABX Air have requested temporary authority from the US Department of Transportation to operate cargo flights to Venezuela, potentially restarting commercial air freight service after seven years. The carriers plan to use Boeing 767 freighters on routes from US hubs to Caracas, with Atlas Air also including onward connections to Colombia. The requests come amid a devastating earthquake in Venezuela and follow the reestablishment of diplomatic ties after the capture of President Maduro.
Commodities How Venezuela’s Strongest Earthquake in a Century Could Disrupt India’s Crude Oil Imports
Venezuela was hit by its strongest earthquakes in over a century, with magnitudes 7.2 and 7.5, causing widespread damage. While oil infrastructure largely escaped major structural damage, the power grid has been disrupted, raising uncertainty over production. India, which has sharply increased crude imports from Venezuela in recent months, faces potential supply risks.
Trade Why ONGC Is Eyeing Two Oilfields in Venezuela; Seeks US Approval for PDVSA Acquisition
ONGC is in discussions with Venezuela's PDVSA to acquire stakes in two oilfields, subject to US sanctions approval. The Indian state-owned company seeks operational control to boost production and recover $500 million in dividends.
Commodities Venezuelan Crude Exports More Than Double Amid US Licence Restoration and Strong Tanker Demand
Venezuela's seaborne crude exports have more than doubled in 2026, rising from 620,000 bpd in January to 1.5m bpd by mid-June, following US licence reinstatements. The US is the top destination, accounting for 44.7% of exports, while aframaxes dominate tanker liftings at 38%. Vitol and Trafigura are marketing cargoes, and SLB has signed a long-term agreement with PDVSA.
Commodities US investors rush to Venezuela oil as Trump calls for $100 billion investment
US investment groups are racing to capitalize on the reopening of Venezuela's oil sector following President Trump's call for $100 billion in investment. Lionheart Capital plans to merge with Keo Energy to create a Nasdaq-listed company, while Formentera Partners and Amos Global Energy Management assess opportunities. The moves follow sanctions relief and a new hydrocarbons law.
Commodities India, Venezuela Strengthen Energy Ties Amid Oil Diversification
India and Venezuela are enhancing their energy partnership as India seeks to diversify its crude oil imports. Venezuela has become India's third-largest crude supplier, highlighting the strategic importance of this relationship.
Trade Venezuela's Rodriguez to Boost Oil Trade with India
Venezuela's interim President Delcy Rodriguez is set to visit India to discuss increasing oil imports amid Middle Eastern supply issues. Talks will cover energy, trade, and investment.