Conservatives feel this is the right ideological battle against socialism.
Venezuela Crisis: Failed coup attempt by Juan Guaido; Military remains supporting Nicholas Maduro
- Thread starter 88m3
- Start date
Secure Da Bag
Veteran
I think that's the icing on top.
- Conservatives want to go to with Iran but can't sell it.
- The administration wants a war to distract from the investigations.
- Commerce wants the oil for the money.
88m3
Fast Money & Foreign Objects
Secure Da Bag
Veteran
That's what the UN is for. The US Army is not for invading anyone we want. But that's another discussion.
True. But we don't control or regulate it.
India is still buying Venezuelan oil and hasn't recognized Guaido
How One of Venezuela's Last Oil Buyers May React to Sanctions
After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react.
India is the third-biggest buyer of Venezuelan oil, after the U.S. and China, averaging about 340,000 barrels a day last year, according to data compiled by Bloomberg. The nation’s private refiners -- Reliance Industries Ltd. and Nayara Energy Ltd. (formerly Essar Oil Ltd.) -- are the primary buyers. That’s because their advanced refining systems can process the thick Venezuelan grade into high-value fuels such as low-sulfur gasoline and jet fuel. In contrast, state-owned refiners generally won’t benefit from more Venezuelan crude as their facilities can’t handle the low quality.
Nayara Energy
The U.S. sanctions may provide Nayara Energy with an opportunity to get extra Venezuelan crude as more of it becomes available in the market, which will help make up for supply it lost as the South American nation’s exports slumped, according to a person familiar with the company’s thinking.
India’s purchases from Venezuela fell about 11 percent last year, in line with an overall slump in exports, according to data compiled by Bloomberg.
The company as of Tuesday was yet to receive offers for more oil from Venezuela and it was still trying to understand the impact of the sanctions on shipping and payment mechanisms, said the person, who asked not to be identified discussing internal issues. Overall, it’s too early to determine how much more Venezuelan oil may come to India, the person said.
Nayara bought about 70,000 barrels a day of Venezuela’s oil in 2018, according to tanker tracking data compiled by Bloomberg.
The company didn’t respond to requests for comment.
Reliance Industries
At 1.36 million barrels a day of capacity, Reliance Industries is the biggest private refiner in India. It’s also the country’s top buyer of Venezuelan crude, at about 270,000 barrels a day, or roughly 80 percent of the total, according to data compiled by Bloomberg.
“Both Reliance and Nayara have a big appetite for Venezuelan crudes given their heavy crude slate.” said Senthil Kumar, an analyst at energy consultant FGE. “They cut imports recently due to declining production in Venezuela and Mexico. This is good opportunity to take some volumes that are redirected from U.S., but upside is limited.”
The company didn’t respond to requests for comment.
Indian Oil
Indian Oil Corp. is the nation’s biggest at 1.6 million barrels a day of capacity. But that doesn’t mean it and others will be able to make room for more Venezuelan oil, according to a person familiar with the company’s position. That’s because the oil will need to be blended with lighter crude to run in most units owned by government refiners, said the person, who asked not to be identified, citing company policy.
The sanctions could also divert some of Indian Oil’s traditional supplies into the U.S. to fill the shortfall from Venezuela, leaving the company in a position to pay higher costs to compete for feedstock, said the person.
An Indian Oil spokesman wasn’t immediately able comment.
Bharat Petroleum Corp.
"Greater availability of Venezuelan oil doesn’t necessarily mean supply reliability,” said R. Ramachandran, refineries director at the state run company known as BPCL. “There are other issues such quality of the crude and higher freight. All these put together, Venezuelan oil isn’t very attractive to India, especially the state refiners.”
There is only a limited amount crude of Venezuela’s quality that Indian refinery can process, he said. “That way, the Indian state refiners do not benefit much from greater availability of Venezuelan oil freed by the U.S.”
And the government?
Prime Minister Narendra Modi generally avoids taking contentious stands on active geopolitical developments, particularly when it comes to the internal politics of trading partners. Venezuela is its fourth-biggest crude supplier, behind Iraq, Saudi Arabia and Iran.
Asked for a comment after the U.S. imposed sanctions, the foreign ministry referred to a statement Friday from spokesman Raveesh Kumar: "It is for the people of Venezuela to find a political solution to resolve their differences."
How One of Venezuela's Last Oil Buyers May React to Sanctions
After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react.
India is the third-biggest buyer of Venezuelan oil, after the U.S. and China, averaging about 340,000 barrels a day last year, according to data compiled by Bloomberg. The nation’s private refiners -- Reliance Industries Ltd. and Nayara Energy Ltd. (formerly Essar Oil Ltd.) -- are the primary buyers. That’s because their advanced refining systems can process the thick Venezuelan grade into high-value fuels such as low-sulfur gasoline and jet fuel. In contrast, state-owned refiners generally won’t benefit from more Venezuelan crude as their facilities can’t handle the low quality.
Nayara Energy
The U.S. sanctions may provide Nayara Energy with an opportunity to get extra Venezuelan crude as more of it becomes available in the market, which will help make up for supply it lost as the South American nation’s exports slumped, according to a person familiar with the company’s thinking.
India’s purchases from Venezuela fell about 11 percent last year, in line with an overall slump in exports, according to data compiled by Bloomberg.
The company as of Tuesday was yet to receive offers for more oil from Venezuela and it was still trying to understand the impact of the sanctions on shipping and payment mechanisms, said the person, who asked not to be identified discussing internal issues. Overall, it’s too early to determine how much more Venezuelan oil may come to India, the person said.
Nayara bought about 70,000 barrels a day of Venezuela’s oil in 2018, according to tanker tracking data compiled by Bloomberg.
The company didn’t respond to requests for comment.
Reliance Industries
At 1.36 million barrels a day of capacity, Reliance Industries is the biggest private refiner in India. It’s also the country’s top buyer of Venezuelan crude, at about 270,000 barrels a day, or roughly 80 percent of the total, according to data compiled by Bloomberg.
“Both Reliance and Nayara have a big appetite for Venezuelan crudes given their heavy crude slate.” said Senthil Kumar, an analyst at energy consultant FGE. “They cut imports recently due to declining production in Venezuela and Mexico. This is good opportunity to take some volumes that are redirected from U.S., but upside is limited.”
The company didn’t respond to requests for comment.
Indian Oil
Indian Oil Corp. is the nation’s biggest at 1.6 million barrels a day of capacity. But that doesn’t mean it and others will be able to make room for more Venezuelan oil, according to a person familiar with the company’s position. That’s because the oil will need to be blended with lighter crude to run in most units owned by government refiners, said the person, who asked not to be identified, citing company policy.
The sanctions could also divert some of Indian Oil’s traditional supplies into the U.S. to fill the shortfall from Venezuela, leaving the company in a position to pay higher costs to compete for feedstock, said the person.
An Indian Oil spokesman wasn’t immediately able comment.
Bharat Petroleum Corp.
"Greater availability of Venezuelan oil doesn’t necessarily mean supply reliability,” said R. Ramachandran, refineries director at the state run company known as BPCL. “There are other issues such quality of the crude and higher freight. All these put together, Venezuelan oil isn’t very attractive to India, especially the state refiners.”
There is only a limited amount crude of Venezuela’s quality that Indian refinery can process, he said. “That way, the Indian state refiners do not benefit much from greater availability of Venezuelan oil freed by the U.S.”
And the government?
Prime Minister Narendra Modi generally avoids taking contentious stands on active geopolitical developments, particularly when it comes to the internal politics of trading partners. Venezuela is its fourth-biggest crude supplier, behind Iraq, Saudi Arabia and Iran.
Asked for a comment after the U.S. imposed sanctions, the foreign ministry referred to a statement Friday from spokesman Raveesh Kumar: "It is for the people of Venezuela to find a political solution to resolve their differences."
88m3
Fast Money & Foreign Objects
The US Army has nothing to do with the conversation.
The UN is broken because of countries like Russia and China. Grow up.
Control or regulate it lol?
We buy what we need. Citgo is their arm in the US and it's "regulated".
Secure Da Bag
Veteran
88m3
Fast Money & Foreign Objects
This isn't some western conspiracy, it's an authoritarian dictatorship that ran their country into the ground and enriched themselves while the world watched and a humanitarian crisis unfolded. Very "progressive" of you guys.
88m3
Fast Money & Foreign Objects
It's irrelevant
You're the one behaving like a child
They're regulated the same way any company that operates in the US is.
keep carrying the flag for a military dictatorship
Secure Da Bag
Veteran
It's irrelevant
You're the one behaving like a child
They're regulated the same way any company that operates in the US is.
keep carrying the flag for a military dictatorship
I'm not sure how Venezuela hurt you, but I'm all for letting them sort it out themselves.
88m3
Fast Money & Foreign Objects
give yourself an extra pat on the back while people starve to death and die from treatable illnesses
so much to be glib about!
Maybe have some Assad and Un t-shirts pressed for good measure!
You're a real humanist!
Secure Da Bag
Veteran
Plenty of that going around in many countries. We're not giving them the same energy we're giving Venezuela.
Seriously, who hurt you?
GnauzBookOfRhymes
Superstar
crazy, there are dozens of billionaires in the US with more money than venezuela's entire foreign reserves.
88m3
Fast Money & Foreign Objects
Plenty of that going around in many countries. We're not giving them the same energy we're giving Venezuela.
Seriously, who hurt you?
You're ripe for the next Trump that comes along.
Night.
