Venezuela's crude is increasingly bought by India, and ONGC seeks to purchase PDVSA's holdings, while Shell and Repsol are active in the country.
2 reports, 2 independent
Updated Jun 24
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What happened
Venezuela's crude is increasingly bought by India, and ONGC seeks to purchase PDVSA's holdings, while Shell and Repsol are active in the country.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Shell holds a 45% stake in the Cocuina-Manakin project, which straddles maritime boundaries involving Trinidad and Tobago and the broader region.Sub-event
- Shell has secured preliminary agreements for access and joint ventures within Venezuela's oil sector.Sub-event
- PDVSA, operating in Caracas, is selling crude and spot cargoes to international buyers, including India's refiner Reliance Industries and Phillips 66.Sub-event
Indian firm ONGC seeks to buy PDVSA holdings, while Shell operates in Venezuela.1 source
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The entities involved
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Venezuela
Country in Latin America
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PDVSA
Venezuelan government-owned oil company
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Shell
British multinational oil and gas company
Related events
- Orlen sought to buy Venezuelan oil despite sanctions.
- PDVSA, the Venezuelan oil company, has undergone a major restructuring under Hugo Chávez, relegating foreign oil firms to minority partnerships.
- A dialogue was held concerning macroeconomic prospects and policy priorities involving Venezuela, the IMF, and the Central Bank.
- PDVSA operates within the Venezuelan state structure.
- Individuals led a previous PNM government approach, highlighting structural interdependence between resources involving PDVSA and Trinidad and Tobago.