Venezuelan Oil

The United States warned Tuesday it was ready to snap back sanctions on Venezuela's vital oil industry unless opponents of President Nicolas Maduro are allowed to run against him, as the leftist government vowed to hit back through migration.

Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.

Reliance Industries is among several companies winding down purchases from Venezuela as a result of US sanctions.

An "American spy" arrested near Venezuelan oil installations last week will be charged with "terrorism," Attorney General Tarek William Saab announced Monday.

Venezuelan authorities have detained two U.S. citizens working with a U.S. military veteran who has claimed responsibility for a failed armed incursion into the oil producing country, President Nicolas Maduro said on Monday.

US President Donald Trump on Tuesday imposed sanctions on the trading arm of Russian oil major Rosneft.

China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter told Reuters on Monday.

Reliance said that the oil is bought at market prices and payments by Reliance for such supplies are settled in cash or by-product supply bilaterally between Reliance and the sellers.

The United States on Sunday appreciated India's efforts adding to Washington's sanctions to restrict exports of Venezuelan oil in the global energy market.

Reliance is among the biggest buyers of Venezuelan oil, although the company has recently said it has not increased crude purchases from Venezuela.

The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro's government, Washington's top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro's financial lifelines.

India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation.

Venezuela Oil: The hardline US National Security Adviser John Bolton has issued a warning to India against buying Venezuelan oil, saying it "will not be forgotten" and that Venezuela's Foreign Minister Jorge Alberto Arreaza has countered that it was an attempt to impose Washington's global "dictatorship".

Venezuela's oil exports have tapered off and shifted toward India since new US sanctions began on January 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.

The White House warned traders on Wednesday not to deal in Venezuelan gold or oil following its imposition of stiff sanctions aimed at forcing socialist President Nicolas Maduro from power.

The United States warned Tuesday it was ready to snap back sanctions on Venezuela's vital oil industry unless opponents of President Nicolas Maduro are allowed to run against him, as the leftist government vowed to hit back through migration.

Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.

Reliance Industries is among several companies winding down purchases from Venezuela as a result of US sanctions.

An "American spy" arrested near Venezuelan oil installations last week will be charged with "terrorism," Attorney General Tarek William Saab announced Monday.

Venezuelan authorities have detained two U.S. citizens working with a U.S. military veteran who has claimed responsibility for a failed armed incursion into the oil producing country, President Nicolas Maduro said on Monday.

US President Donald Trump on Tuesday imposed sanctions on the trading arm of Russian oil major Rosneft.

China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter told Reuters on Monday.

Reliance said that the oil is bought at market prices and payments by Reliance for such supplies are settled in cash or by-product supply bilaterally between Reliance and the sellers.

The United States on Sunday appreciated India's efforts adding to Washington's sanctions to restrict exports of Venezuelan oil in the global energy market.

Reliance is among the biggest buyers of Venezuelan oil, although the company has recently said it has not increased crude purchases from Venezuela.

The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro's government, Washington's top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro's financial lifelines.

India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation.

Venezuela Oil: The hardline US National Security Adviser John Bolton has issued a warning to India against buying Venezuelan oil, saying it "will not be forgotten" and that Venezuela's Foreign Minister Jorge Alberto Arreaza has countered that it was an attempt to impose Washington's global "dictatorship".

Venezuela's oil exports have tapered off and shifted toward India since new US sanctions began on January 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions.

The White House warned traders on Wednesday not to deal in Venezuelan gold or oil following its imposition of stiff sanctions aimed at forcing socialist President Nicolas Maduro from power.