Venezuelan Oil India

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.

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.

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is seeking $537 million worth of crude oil in lieu of cash due for its share of sales from a Venezuelan oilfield.

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.

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.

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is seeking $537 million worth of crude oil in lieu of cash due for its share of sales from a Venezuelan oilfield.