India is diversifying its crude oil sources, relying on the Middle East and seeking oil from Venezuela.
2 reports, 2 independent
Updated Oct 1
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What happened
India is diversifying its crude oil sources, relying on the Middle East and seeking oil from Venezuela.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.Imports surged to $3.6B; US pressures India to buy American oil.1 source
- ONGC is conducting rig moves in Indian waters, with consultants involved, while various Middle Eastern countries are mentioned as being in the region.Sub-event
India is seeking crude oil from Venezuela as part of its diversification strategy.1 source
Keep exploring
The entities involved
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Middle East
geopolitical region encompassing Egypt and most of Western Asia, including Iran
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Venezuela
Country in Latin America
Related events
- Venezuela crude deliveries are expected to double to India, utilizing the Jamnagar complex and Sikka port.
- US oil profits are being driven by Middle East events, while states like Texas, Oklahoma, and Louisiana contribute significant oil to the US economy.
- Rising crude oil prices are attributed to ongoing tensions in the Middle East.