Energy

India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA

India’s ONGC is poised to take over operation of two Venezuelan oil projects from state-owned PDVSA, which would give the Indian producer direct operational control over assets of the world’s largest proven crude oil reserves. Reuters exclusively reported Wednesday that ONGC expects to sign new agre

Source: OilPrice.com

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DW NOTE

India wants operational control of Venezuelan fields from a state company that cannot operate them. PDVSA's own production collapsed 70% between 2015 and 2020 under its management. This is less a takeover than a foreclosure — India already supplies the refining capacity Venezuela lacks, and now wants the wellhead too.

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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