India to Buy Venezuelan Crude Oil as Protection from Chaos in West Asia? | Vantage with Palki Sharma
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- Опубліковано 1 жов 2024
- India to Buy Venezuelan Crude Oil as Protection from Chaos in West Asia? | Vantage with Palki Sharma
India is reportedly looking to buy crude oil from Venezuela.
Crude from Venezuela made up about 5-7% of India's oil imports up to 2019.
U.S. sanctions that year forced India to stop buying Venezuelan crude.
But the U.S. has eased sanctions and India is looking at Venezuela again amid the chaos in West Asia.
India has made smart moves in the oil market in recent years, and Venezuela could help insulate India from oil shocks.
Palki Sharma reports.
Also Read: www.firstpost....
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Venezuela | Crude Oil | India | Oil Import | USA | West Asia | Nicholas Maduro | Energy Security Policy | OPEC | Russia | Firstpost | World News | Vantage | Palki Sharma
#venezuela #india #crudeoil #oilimport #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
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Ok..
Sometimes I feeling first post becoming west puppet channel
sangod007.blogspot.com/2023/11/spurs-evolution-of-football-legacy-in.html
Agreed.
Thanks Palki
Kudos to India when it comes to buying from other oil sources regardless if it's under US sanctioned. A government with balls who looks after their own interest unlike other countries.
Didn't you watch the video? Sanctions are lifted, that's why India is buying again.
@@carmenvalmalaartaraz8260sanctions are eased not uplifted.
@@carmenvalmalaartaraz8260what about Russian oil, INDIA started buying in bulk after the sanctions were imposed.
@@martin96991Russian oil wasn't sanctioned but there was a price cap.
@@carmenvalmalaartaraz8260 India been buying oil from Russia even in the heat of Russia invading ukraine. So it's not like new a thing.
Indian government has decided to get rid of the Arab countries who always blackmail India.😁
US allowed , India don't have right to decide for itself.
@@fine2502🤡🤡 replay... Who the hell is west to tell us?... They couldn't even pressure us to side with Ukraine war and stop us from buying Russian oil...
Because ungrateful indians 🇮🇳 spy and deceive Arabs. 8 indians spying and deceiving Qatar 🇶🇦. How shameful. Taking salaries from Qatar 🇶🇦 and deceiving them. This is the reality of india 🇮🇳 🐍
@@fine2502 How come India bought lot of oil from Russia. US's sworn enemy.
@@fine2502 I dont think the US and Eu allowed India to buy Russian oil, but India went ahead anyway.
Civilization as old as Bharat can't be bullied by any nation on earth. We need to stand strongly behind our leaders like Narendra Modi.
We are blessed to have a leader like him who took the country out of the mess and pushed it towards growth. The values of Indians have improved in the world after Modi
@charlesbutcherfantastic7869ran away like cowards,will get karma soon once their shithole of a country goes down the drain
But still Khalistan Nagaland Tamil Kashmir will get freedom from india soon 🐷🇮🇳🐷
@@Babasasa111lol Balochistan and sindh wants freedom 😂😂😂😂
@charlesbutcherfantastic7869that's why they are right now enjoying their karma in the form of immigrants and diversity. Soon the immigrants will take over uk Or they all kill each other in civil wars.
This is a great strategy. Inflation is killing many economies. India would be able to check the inflation with cheaper energy. Suffering of more than a billion humans is at stake and need this strategy to prevent if from happening.
Chinese n Pakistani bots creating their own happiness in comment section 😂
Good for india and Venezuela ties.
The push towards electric cars and public modes of transportation must commence.
Modiji was right always..
Electric cars are nowhere near sustainable. A pipe dream it is
EV cause own kind of pollution and make u dependent on chinese monopoly over supply of rare metals and battery tech.
World is filled with oil why not use the reliable tech rather than chemical filled EVs.
Yup comfortable and fast and sufficient public transport is good for any nation .
Russia has said that India should pay the Chinese currency yuan for the oil it buys from Russia. That is what viswaguru is looking to buy oil from Veninzula 😄
@@shafeeq7447venizula also said …india paid only chinese yuan not USD or indian rupee😂😂😂
Guyana, next door to Venezuela, is a new oil producer. India and Guyana have close and fraternal relations. Could India explore Guyana?
Indian energy firms have already started looking for opportunities in Guyana.
They have promised to invest over $3billion in their oil and mineral sector.
@charlesbutcherfantastic7869when has India thieves any body's stuff.
@charlesbutcherfantastic7869 lolu India pays money for oil, it is trading not thieving what you are saying
@charlesbutcherfantastic7869they ain't brits
The most active country in Guyana oil industry is actually India. Indian companies, like IOC, BP, and others have a considerable stakes in there. Some more companies have bought the right to explore oil in Guyana. Just look at the GDP of Guyana, it has grown 4-5 times in just 8 years, remarkable numbers, just after India entered Guyana.
at least venezuela doesn't brutally attack neighbor countries and does not threaten to destroy the world with nuclear weapon
Very true.
@@apojaymotivation5301yeah but Venezuela 🇻🇪 refused to become slave of western world specially USA that's why Venezuela is sanctioned
Venezuela's Vice President was in India in September. She praised India as one of the Great powers of the 21st Century...@@harshverma80
@@harshverma80They got sanction relief from USA when they said they would stop throwing opposition members in jail.
@@chillxxx241 No use trying to explain it to these people. They got sanctioned because their government took everything from the people that wasn't nailed down and rigged the election. Worse than that people were roaming the halls of buildings with machetes looting and killing (as well as committing cannibalism during the famine). Foreign aid wasn't even allowed in unless the government was allowed to control and loot it. Who wouldn't sanction such a horrific government?
Do Guyana! Huge Indian population who are still connected to their roots so it would be easier to do business. + good to start affiliating since China already is.
Opportunities already getting explored by Indian companies
Best decision... our petrol prices need to be below 100
Good move by Bharat. Avoid Quater in all ways possible.
Chinese bots are going bonkers over India not accepting RMB😂😂😂
Necessity is the mother of invention
Brave move by India.. challenging America
Lol. India is abandoning russia in the middle of the road, just when russia needs India the most. No friends among hypocrites. BTW, India is turning to Venezuela AFTER the USA lifted the sanctions against that country. In other words the USA is allowing countries to buy Venezuelan oil and less of russian oil and that's exactly what India is doing. To the detriment of russia.
Isn't the sanctions removed ?
No. I think sanctions against Venezuela had been lifted, if I heard that right.?
how? sanctions are removed already
@@janejustin1788 my bad ,I wasn't updated
Congratulations for the 3 million subscribers. Want to see 30 million in next years .
🇻🇪🤝🏻🇮🇳🤝🏻🇷🇺 Indo-Venezuelan & Indo-Russian Trade Ties be Updated Furthur !
Good move India.
Venezuela needs this
Lifting sanction means west asia conflict will be a long time conflict.
US removed sanctions from Venezuela so no problem 😅
India must aggressively boost on EV and nuclear power production
India has a lot more sunlight than Russia does.
I would put sanitation as the topmost priority item. The anus is the greatest part of the body and it deserves the respect of every other part of the body !
It will be even great for two countries if the business done in Indian Rupee. So Venezuela can purchase food, medicines and other essential things from Bharat. It's Win-Win situation. Unlike Islamic countries, Venezuela won't meddle in out internal politics too.
Only problem will be the geography. Venezuela is very far compared to Arab/Persian Gulf
I understand India's move to switch away from the Arab/Persian Gulf as that whole area is teetering on the brink of a major regional war. No matter how close-by an oil supply is, it's useless if one cannot get it due to a war going on.
Shipping costs can also be reduced if India gets the oil refined first before shipping it. Refining always reduces the volume to be shipped.
Venezuelans won' t even touch the Indian rupee with a ten foot pole.
@@wongsoongcheng1245 The means going back to petrodollar. When is the BRICS coming out? Can't wait
@@wongsoongcheng1245 that is cheng like comment.
@@wongsoongcheng1245Chinese?
they're boycotting us ... let's boycott their oil ✌
We will vote for Modi and Bjp in 2024 🚩
Flooding the market with oil keeps the prices low, regardless of who sells it. Sanctions don’t apply these days.
0h, but they do. Just ask Venezuela.
yes these days i dont like russia standiung with unfriendly nations.. lets change the oil buying country
We depend on palki for reliable news
Anyhow, we Indians will have to pay huge amounts for petrol and diesel price........😥
The benefits will go to Indian Oil Companies.
I am Eastern European from a country that is part of the West now but was not 30 years ago. We always had a policy of letting the West European countries and the USA deal with international stuff, and we just followed their demands when they were obligatory and stayed neutral when they were not. In return, we got guaranteed safety, so no more obligatory military service and wasting large amounts of money on the military, and a somewhat improved standard of living due to investments, tourism, and free trade. Now for the first time we are receiving the negatives of the arrangement by being hated on and trade restrictions causing inflation simply by being part of the west, though we do not have any interest in these global demands for spreading democracy and capitalism or criticising others. It is true we don't want Russia to expand, as one day we could be next, but we don't want it destroyed either. As long as it gets stalled, fine with us, but for the rest of the world, we think sanctions and involvement are stupid, especially if they don't threaten any of the western countries we join alliances with. So sanctions against Venezuela, Myanmar, Iran, countries in Africa and South America, or even Afghanistan are none of our business. We should do the same as China, stay neutral, and get what ever we can through trade. They can deal with their own human rights slowly as time goes on.
Scammer spotted
When it's your country's turn to be invaded, you will feel regret for the lack of solidarity to defend your country. Israel didn't want to support Ukraine because it valued its fairly good relations with Russia but it had learnt its lesson well this time, hadn't it ? Is Russia on Hamas' or Israel's side when Israel was invaded ?
Did Russia's military base in neighboring Syria hold back the threat from Hezbollah backed by Iran ?
It takes time to build up enduring trust and friendship. Do it before one needs it.
@@VoltarStarman-m6rPakistani terrorist spotted
@@solconcordia4315Yugoslavia, afghanistan and Iraq ask the same question about American invasion. What happened with you when America invaded these countries? West meaning is hypocrites bunch and hypocrisy is fundamental rights of that alliance. US put sanctions on Venezuela over not practicing fair democracy but what about American ally Pakistan which is terrorists safe heaven and ruling by military with democracy sugar coat? what about when US, Uk, Canada, Australia, Newzealand supporting khalistani terrorists in its soil against India? while punish/lecture others for same things if any nation harbor such terrorists, especially against West.
But Venezuela not willing to accept the worthless Indian Rupees... 😂😂
Cannot understand as to why Indian companies not filling the gaps in Russian markets left open by the American companies due to sanctions. We have malls like Reliance, D'Mart etc which can open stores their and utilise the Rupees Russia gets from selling oil. That will stablish Indian brands in Russia, increase business and relationship/ friendship.
Let's hope Venezuela is not accepting Indian rupees, can't have too much toilet paper.
Right chose 🇮🇳. gulf countries be rejected by india 🇮🇳 they have been played enough no more...india is big oil importer by russia want Chinese yuvan exchange for oil india couldn't do ..indias electric wehcles being started...
Even if India buys oil cheaply
Indians will not get it cheap 😴
Russia asked for payment in RMB,even Venezuela comes under the Chinese road and belt initative will they except $ as payment,Russia refused rupee or $ payment
Well Russia refused to accept Indian Rupees.
Russia ask for Chinese YUAN.
Venezuela has the largest quantity of unextracted crude oil of any country on Earth.
Faster adoption of Electric vehicles and Hydrogen is the way forward for Bharat
I think india should work more the forex upi version then to make things more good
I always say , with due all respect. He has Rabits eyes.
A Rabi😮 can see in 360 angle/ degree directions . His thinking and problem solving brain is also active 24 hours a day.
We can buy cheap oil but will the oil rate drop in india is the question
India waited for US permission
China ignored US sanctions on Venezuela.
Which country between China or India can defend Global South countries
Sanction of Venezuela was eased due to political advantages and India's role also played a major role.
Even if the india is buying so much oil from other countries that too in low price still how come the petrol price still 100 above..Tell me palki...This was upsurged in the course of time and became stagnant to this figure..if there is enough oil with them then why did the government not lowering the petrol price.. Atleast they could make it 70 or 80 which is reasonable for the common public..
Palki, India’s cost of purchasing oil will still increase.
Venezuelan oil output is below a million BPD, and it export to other countries, so India will still have to purchase Russian oil, or increase oil imports from other OPEC nations, which will be more expensive because of the volatile situation with Palestine and Israel.
Also, India will never know when US will put back sanctions on Venezuela. I mean sanctions were imposed on Venezuela because US said it had unfair elections. However, the US backed opposition was able to swore himself in office, without a single vote from the people of Venezuela, and most countries agreed, and cut President Maduro, who the people voted for from obtaining its own money needed for medical supplies during Covid-19.
I mean, you can’t make this stuff up, so no telling what will happen in six months from now. Leaders have to think about what they do, because US has to feed, house and clothe all the Venezuelans coming across to US borders.
So, I think India should stick with Russia and come with a method for payment, or India will be stuck in the long term.
The amount of money the US spends abroad is absurd, giving billions to countries, taxpayers money ,and yet we're struggling at home. Some of our cities and neighborhoods look like they're third world only with higher violent crime. We need help here not in some lands most of us cannot even pronounce correctly. Unfortunately this is imperalism and capitalism without a conscience.
😂😂 our PM is a gujrati, he very well knows how to do business.... Profit starts from purchases, so go for it for the best of our nation... Business is in his DNA 😂😂
India is importing huge amount of crude. Ok
Is it sold to indians : no
it is processed made petroleum and sold to countries like sreelanka,nepal for 40 rs. While indians lay 108 rupees.
USA will make billion indians life suffer and struggle if usa intervene
.. We always love to buy cheep oil ...
They bought oil at leaser price in 2023 than in 2022. Great news! But why are we still paying more for oil in 2023 than in 2022? 😡
Why would Valenzuela sell their oil to India when their Rupees doesn't worth shits??? 😂😂😂
China used to buy it so why not india
Man Modi is always show middle finger to amurica
The Israel-Hamas War and the Coming together of Saudi+Iran+Russia and China has forced this move, Russia and others will force India to buy in Chinese currency, also, there is a strong diplomatic tilt towards China from Russia, India is left with no option.
From what I see, the biggest problem for BRICS progress could be the presence of India. India can not make up it's position whether to support the US led alliance or the new Russia-China led alliance. India is bipolar, they simply can't make a clear cut choice.
India got 1.7 billion mouths to feed. Hell with BRICS if they don't benefit the indian population. Our leader aint a dictator, he has to answer to people. Unlike Xi Ping, Putin and other dictators in BRICS.@@AliBarisa
@@AliBarisathey are always thinking about, what is it for me, first. Always short sighted and never have long term strategy for their country. It will be soon the BRICS will be without India to slow and or hamper it's progress. They can always craw back to their master and beg for job.
@@AliBarisa
India isn't bipolar but it's trying to become non-aligned. The fact is that most countries including India cannot be totally independent in everything.
India obviously has to choose a position if it needs to buy and sell things with the rest of the world.
@@AliBarisaexactly, still has to look to it’s master, it is too easily instigated, too many fractions, the brightest and wealthiest are leaving india, they expire their brightest people instead of their stuff, making the rupee weak, who wants to trade in rupee at this point, holding rupee for what? India has very little commodities
Venezuela should be aware of india as a vountry to do business with. Take the case of Russia after supplying the oil india is now insisting in 0ayijg for it in rupees.
Venezuela should request for cash before delivery.
Venezuela want chinese yuan or gold upfront
And who is going to be benefited by this subsidy oil, common Indian is buying oil at premium price.
india has been cut off from Russia because it refuses to settle in Yuan..so now India has to search out to Venezuela. best of luck
What goods can India provide to Russia in exchange of rupee while comparing to what its not that China cant provide? India is far n far behind China in every aspect. Time to learn for every people about China's fast deveopment rather than demonizing .
Will it benefit to public? Or only to Ambani Adani's?
every two wheeler user in India should purchase a new two wheeler EV (Electric vehicle) as a back up vehicle as a status symbol.
That will be foolish, EV tech makes u dependent on chinese supply monopoly, and EVs cause as much pollution of earth just in different place and time. World has enough oil, just use it wisely.
Where is electric going to come
When is fraud Modi going to set up charging stations in petrol pumps and lower taxes on EV ?
India should be more outspoken in its support to Israel . People in isreal were very disappointed to see india abstain from the UN ceasefire when we all expected to them vote “ for “ just like United States . People of isreal really consider we have only 2 friends india and USA and india let us down in the UN vote . India should openly show its support to Israel just like how isreal has always supported India
Ccp credit +10
Chinese bot. Israel never supported India openly.
😂😂
Wait for complete transformation from oil to ev.
India was the first country to condemn Hamas attack - and called it a terrorists attack - plus India offered military help too , to counter the terrorism- your ambassador to India denied any help... hence don't be way too selective in building your narrative- we abstained from voting but so did many of your friendly country- I too am on the side of Israel but I do not support what Israel is doing now - the ground invasion- mostly killing innocents. It was a terrorist attack- support the retaliation but the Ground invasion is way too aggressive and inhuman.
We are a democratic country- we weigh everything and then we decide- we are not like Europeans - the American puppets. Where our master will go we will follow
What's the benefit? India will still sell oil at higher prices
ultimately indian have to pay in yuan...not in dollar or rupee
Whichever channel Palki chooses, peeps queue up to that channel. Also, glad to know India is buying oil from Venezuela again..
Thank America. It was by America's permission. India has to be smart.
@@dotmarceonothing to do with America
❤
Good to every country is good for India future
Indian O&G companies should try to get into agreements in Namibia where massive oil reserves have been discovered offshore by TotalEnergies, Shell and others. It will eclipse even Guyana when the newly discovered fields are brought online. Massive opportunity for Indian Oil & Gas firms to invest.
We will do..we already signed deal with Mozambique.
@@santusanturohit4832 well, better hurry then. Already arab national oil companies in races to buy stakes in Offshore Namibia. It's the next big oil hotspot after Guyana.
Apakah Venezula berniat menjualnya ke India? Mengingat hubungan baik venezuela-China-Rusia.
Not India... Adani and Ambani... only. Right?
We indians should start using public transport rather using cars and bikes for every other place we need to support our country. Using Cycle and walking to nearest shops and areas will help a lot.
There is Guyana too that has found huge reserves of oil and will supply India.
Guyana Is the Most Exciting Story in the World Oil Market
ua-cam.com/video/-ZuEjx50wiE/v-deo.html
GUYANA’S OIL SUPPLIES PART OF INDIA’S PLAN TO EASE SHORTAGES
ua-cam.com/video/3EgzCTpHVGE/v-deo.html
Jai modi
Nicolàs Maduro: Pay in Yuan or else no deal 😢
It's Smart move by India
A good government in India is working for the benefit of its people and the country
Philippines should also buy too
We support Venezuela 🇻🇪
Don't sell India any oil India
It's not cheap for the common people of India. People would still get oil in excess of Rs.100. The only people who's going to get the oil cheap are the oil marketing companies.😓
These newsreaders don't want people to be aware. They just care about viewership and money.
It's cheap to another country. What we pay lower to another country
@@Vinayrsy you didn't get what he meant, Indian companies import cheap oil but have that changes the petrol, diesel price in India, in Mumbai petrol price is 106 rupees and it has been remain constant for more then a year now. If we have bought cheap Oil why there is no reduction in price for petrol and diesel. It is because they only drop oil in Indian market that is required by the Indian consumer and rest of the oil is exported to Europeans and other countries. Well this help the Indian economy to grow but has not use for us consumer. And we are being robbed by the government with their taxes. We are taxed almost 70 rupees for a litre of petrol. I am a strong BJP supporter but people must know that they are being robbed. Either bring a uniform tax throughout center and state or stop this bullshit of we are buying cheap oils. Because it does not help common people.
Bout time but don't forget Guyana. I'm not sure how far along they are in production however, an extremely large oil reserve was recently discovered in that country. The US *SHOULD* be paying attention and learn how to cooperate with their neighbors -- *HONESTLY*
The West *NEEDS* to make peace with Venezuela and negotiate some type of deal which will involve lifting sanctions and revamping oil production in Venezuela. This has the potential to be a win win situation for all involved - *IF* done correctly otherwise, China or Russia will eventually move in and dominate.
I seldom agree with India but in this case I give them an A+ - with a bonus.
Another nation to be cheated.
I vote 🗳️ BJP and modi ji
China used to buy it so why not india?
Ur very beautiful😍
Amit shah master mind
Really, good move by indian government.
Oil trade with Venezuela.
Let's see who will invest...in Venezuela
Deep into matter but greater clarity is the greatness of Palkisharma.
Congratulations on each reporting.
Venezuela have a productions of 3/4 million barrels a day and China have already taken half, how can India replace the 2 million barrels they get from Russia? Venezuela is lucky to give 100k barrels / day or 5% of what India get from Russia 😂
Small eyed , half lulliya, Kallu Beggar spotted begging fot ATTTTAAAA here
@@ChutiyaAsifMunrBegaristaniRand update news Venezuela want india to paid in chinese yuan or gold or no oil ,lol
@@SamsungLe-vz2uy Stop imagining. Don't bother your small brain 🤣
But oil tax will never be reduced
India will be paying Venezuela in USD right?
Yes I think so, for now!!
Israel sold Lavi fighter project to China. Israel was developing fighter plane combination of Mirage 3 and F 16 capabilities. Under US pressure this project was abandoned. Israel sold prototype and drawings to China and China developed F10C, Israel sold air to air missile technology and avionics to China. Now China paid back removing Israel from map. Because China wants Saudi and Iran for its oil need and for export of Chinese goods.
There's nothing special about the Lavi. Canard win design even appear on WW 2 Japanese aircraft. Air-to-air missile technology came from a recovered U.S. Sidewinder missile. China largest oil supplier is Russia. Beside, China always have good relations with Arab countries since the Silk Road days
“Let me repeat that”!!!! That sounds so corny. Stop saying that.
Main reason to lift the sanction is for US companies to by oil from Venezuela. US is low on its strategic petroleum reserve. There is no chance of discount from Venezuela while the sanctions are lifted.
And immigration is reduced if Sanctions are reduced.
Hahaha Venezuela can not even have gasoline for them self. Long rows to tank....sanctions are back ....28 July elections there but already they are gonna try boycot elections........a shame a country with the largest deposits of oil......by the way with beautiful ladies....pray for them
Supply disruption( price increase)... Discounted price (price decrease) what to take...
India the oils are all the same cheaper oils are the best regards money longer sales paying for Less is best easy money longer sales good for working professional masters