Saudi Arabia – Summaries of news and views OnVenezuela

U.S., Russia agree to oil market talks as Trump calls price war ‘crazy

See Post — Mon, 30 Mar 2020 23:37:49 +0000

The change of ownership means any future U.S. sanctions on Russian-controlled oil operations in Venezuela would target the Russian government directly. By Timothy Gardner and Darya Korsunskaya. Full text -> Financial Post

Says Oil Price Crash Is ‘Brutal Blow’ to Venezuela

See Post — Fri, 13 Mar 2020 13:27:56 +0000

The price war between Russia and Saudi Arabia will cut Venezuela’s oil revenue by $6 billion this year, according to consulting firm Ecoanalitica, which estimates 2019 oil revenue was $23.1 billion. By Fabiola Zerpa. Full text-> BNN Bloomberg

India’s Reliance buys 2 mln bbls extra Saudi oil for April loading

See Post — Thu, 12 Mar 2020 10:52:00 +0000

It was not immediately clear which crude Reliance will replace with the additional Saudi barrels. The refiner, one of the biggest buyers of Venezuelan oil, is preparing to wind down purchases from the Latin American nation from April under pressure from U.S. sanctions. by Nidhi Verma. Full text -> Regina Leader Post