Venezuela suspends oil exports to India

  • 20-Mar-2019
  • Venezuela suspends oil exports to India

Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela's oil minister. 

The Azeri ministry issued the statement on Tuesday following talks in Baku between Azerbaijan's energy minister and Venezuelan oil minister and president of state-run oil company PDVSA, Manuel Quevedo. 

"At the meeting... Quevedo said in order to prevent a sharp reduction, various measures are being implemented and diversification of the export market is underway," the statement said. 

"Russia and China are seen as the main destinations because of the suspension of oil exports to India," the statement said. 

The Indian market has been crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States. 

Earlier this year, the United States imposed heavy sanctions on Venezuela's oil industry and has pressed India to stop buying Venezuelan oil. 

OPEC and other oil ministers met in Baku in talks over the weekend that ended on Monday. 



Source :- Economictimes.indiatimes.com

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2024 www.seair.co.in. All Rights Reserved.