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State-owned ONGC can now restart full operations in Venezuela after its overseas arm, ONGC Videsh Ltd (OVL), received a licence from the US Treasury’s Office of Foreign Assets Control (OFAC). The company had been restricted from operating fully in the country because of US sanctions. The approval removes a major hurdle for ONGC’s Venezuelan investments…
Venezuela’s interim president on Thursday announced pending legal reforms to the country’s critical fossil fuel sector, as she seeks to recalibrate ties with Washington following the US military ouster of her predecessor, Nicolas Maduro. Since the January 3 capture of Maduro, US President Donald Trump has asserted that the United States essentially controls Venezuela, while…
US President Donald Trump on Saturday signed an executive order declaring a national emergency over Venezuela’s oil revenues. According to the White House, the purpose of this order is to protect Venezuelan oil revenues deposited in US Treasury accounts from any kind of legal seizure, court order or private claims. read more According to a…
US President Donald Trump began a meeting to discuss Venezuela with executives from some of the world’s largest oil companies at the White House on Friday, saying he wants them to invest $100 billion in the country to vastly expand its production. The meeting reflects the importance of oil to Trump’s strategy for the OPEC…
Trump held a meeting with major oil companies CEOs at White House in Washington, DC on Friday. Washington: US President Donald Trump said Friday that oil companies would deal with the United States government, not Venezuela, when exploiting that country’s oil reserves. “You’re dealing with us directly, you’re not dealing with Venezuela at all, we…
Washington: In a major announcement, US President Donald Trump said on Wednesday that Venezuela would now purchase only American-made products with the money they receive from the new oil deal. In a post on Truth Social, the US President said that the purchases would include American agri products, medicines, medical devices and equipment to improve…
Venezuela Live Updates: The deposed Venezuelan President Nicolas Maduro’s trial has begun on Monday as he was brought to New York’s Manhattan court. Maduro, who was captured along with his wife, Cilia Flores, on Saturday in a shocking US military operation, made his first appearance in court where he pleaded not guilty. During the trial,…
Chinese President Xi Jinping has called on major powers to take a lead in “respecting the development path of other nations” in a veiled dig at the United States’s sudden power grab in Venezuela and abduction of its president, Nicolas Maduro. China has long been close to Venezuela and is its largest oil buyer. “The…
Japan: Oil prices fell on Monday after a US military operation seized Venezuelan leader Nicolas Maduro, whose country has the world’s biggest proven crude reserves. Increased volumes of Venezuelan oil entering the market would add to oversupply concerns and put further pressure on oil prices, which have fallen in recent months. In morning trade in…
Hindi News Business Venezuela Economic Crisis Explained; Nicolas Maduro Vs US | India Crude Oil New Delhi11 minutes ago copy link On January 3, America attacked and arrested President Nicolas Maduro. Venezuela was once among the richest countries in the world. Today he has become a pauper. This is the story of a country which…