Venezuela: The Rise and Fall of a Petrostate Council

  • india-venezuela relations a case study in oil-wilson center
  • india-venezuela relations a case study in oil-wilson center
  • india-venezuela relations a case study in oil-wilson center
  • india-venezuela relations a case study in oil-wilson center

Russian-Venezuelan Relations at a Crossroads Wilson

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Latin American Program Wilson Center

Understanding the Venezuelan Refugee Crisis Wilson

  • Why is India keen to diversify relations with Venezuela?
  • EAM said that India greatly valued its relationship with Venezuela which had become the 3rd largest supplier of crude oil to India in 2012 and that India was keen to diversify India’s relations with Venezuela in other areas of mutual interest. Mr.
  • Why does India import crude oil from Venezuela?
  • India’s crude oil imports from Venezuela, apart from their commercial purpose, are also advantageous for the country. Venezuela is abundant in heavy crude oil, which is cheaper than the lighter grades of crude oil. Moreover, India has many refineries that are capable of processing heavy crude oil.
  • How has the crisis in Venezuela affected India-Venezuela bilateral oil trade?
  • It can be concluded that the crisis in Venezuela has affected the India-Venezuela bilateral oil trade. This is worrying for Venezuela as it owes a $60 billion debt to China. India generated $7.39 billion in revenue for Venezuela in 2018[xxxvi] and Venezuela would have wanted to increase this in 2019 to pay off a part of its huge debt.
  • What is India's oil synergy with Venezuela?
  • Moreover, India has many refineries that are capable of processing heavy crude oil. Another advantage that the oil synergy with Venezuela has is that it helps to diversify India’s oil procurement and ensures that it does not depend solely on one region to meet its oil needs.
  • Are India and Venezuela tied together?
  • But in the long run, given India’s demand for oil and the size of Venezuela’s oil reserves, Seshasayee sees the fortunes of both countries as inescapably tied together. Crude petroleum is the cornerstone of the India-Venezuela relationship—accounting for 98.54 percent of Venezuela’s exports to India in 2017–18.
  • What are the relations between India and Venezuela?
  • India - Venezuela Relations India and Venezuela share a history of warm relations. There is a similarity of views on major international, political and economic issues. This strong partnership extends beyond bilateral cooperation, as both nations actively collaborate in multilateral forums.