VENEZUELA GAS TARIFF
The high price of being King Trump: How tariffs and war fuelled voter anger
Inflation has significantly impacted the political careers of Biden and Trump. Rising costs have led to voter discontent against both administrations in recent elections. Trump's tariff policies and military actions have contributed to increasing economic burdens on citizens. Democrats now have an opportunity to implement policies that address voter concerns about inflation and foreign conflict. Improving these areas could help position them competitively for the 2028 presidential election.
US courting Reliance's refining muscle to keep oil flowing, not curb Russian crude, analyst says
Marco Rubio's recent visit to Jamnagar emphasizes strengthening energy ties between the US and Reliance Industries. With a capacity of 1.4 million barrels per day, Jamnagar plays a crucial role in global diesel exports. The US seeks to stabilize energy flows while urging India to diversify away from Russian oil. Reliance is also positioned to process Venezuelan crude, enhancing Washington's interests in the region.
‘We have all of those elements’ in India, says BP CEO Meg O’Neill as firm weighs oil and gas bids under Samudra Manthan scheme
India's government has introduced the Samudra Manthan policy to enhance energy security through increased oil exploration. BP's CEO Meg O'Neill highlighted India's attractive conditions for foreign investment and exploration. This policy involves significant funding to support the development of discovered resources. BP is actively exploring current opportunities, aiming for growth and development in its portfolio. The company intends to remain independent while adapting to evolving global energy landscapes.
How Trump's diplomatic week exposed the limits of his power
US President Donald Trump sought to project diplomatic strength through his UN address and summit with Chinese President Xi Jinping, but the week produced limited breakthroughs. The Iran war, strained ties with allies, Ukraine and the US-China relationship continue to challenge his foreign policy agenda, according to Reuters and analysts.
Trump says Witkoff, Kushner met Iranian officials, shortly after warning he may 'annihilate' Iran
US President Donald Trump met with Iranian officials while attending the UN General Assembly to address ongoing tensions. This engagement follows months of stalled communications after a collapsed ceasefire in June. Trump mentioned a possible meeting with Iran's President Masoud Pezeshkian during the assembly discussions. Meanwhile, discussions concerning the war with Iran included meetings with Gulf Cooperation Council leaders.
Russian oil uncertainty hangs over India’s largest buyers
Indian state-owned refiners are facing rising crude supply uncertainty as Middle East disruptions coincide with the risk of tougher US restrictions on Russian oil buyers. Saudi Arabia’s East-West pipeline shutdown has disrupted more than 400,000 barrels a day of supplies to India, although about half the capacity could return within days.
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India must not let energy security become a US trade ‘weapon’, warns GTRI
According to a warning from a US think tank, Indian goods could face tariffs as high as 100%. This move may compel India to significantly limit its imports of oil from Russia. The recent US legislation permits tariffs on principal buyers of Russian energy, highlighting India's growing reliance on Russian crude since 2022. The think tank recommends prioritizing energy security over achieving trade advantages.
India pivots to US for LPG, LNG as West Asia crisis disrupts Gulf supplies
India is sharply increasing LPG and LNG imports from the United States as West Asia disruptions constrain traditional Gulf supplies. US LPG accounted for over 73% of India’s LPG imports in August, while US LNG volumes also rose. Russia remains India’s largest crude supplier, while Venezuela and the UAE gain importance as India diversifies energy supplies amid geopolitical risks.
India must end Russian oil ambiguity as tariffs loom: GTRI
As tensions rise, India faces a pivotal choice regarding its imports of Russian oil, especially with President Trump issuing threats of increased tariffs on Indian products. The stakes are high, as Senator Graham is advocating for penalties on nations linked to Russian oil purchases, further complicating India's trade dynamics. With Indian exports to the U.S.
Russian Oil exports drop sharply in November as sanctions concerns weigh on buyers: IEA
Russian oil exports significantly declined in November due to buyer caution over stricter US sanctions, leading to a substantial drop in Moscow's oil revenue. This fall, coupled with lower Urals crude prices, marked the lowest export revenues since the Ukraine conflict began. Global oil supply also decreased, with OPEC+ contributing significantly to the decline.
US said to revoke several transnational oil, gas company licenses to operate in Venezuela
The United States has revoked licenses for several international oil and gas companies to operate in Venezuela, impacting firms like Chevron, Repsol, Maurel & Prom, and others. This action is part of the US's efforts to economically pressure Venezuela and President Nicolas Maduro. Companies have been notified and are beginning to wind down operations.
Oil holds near one-month high, set for third week of gains amid supply woes
Oil prices remained high due to U.S. tariffs on countries buying Venezuelan oil and restrictions on Iranian oil trade. Brent and U.S. crude futures slightly dipped but saw weekly gains. U.S. crude stocks fell more than expected. Analysts are cautious about sustained price gains amid global trade uncertainties.
AI, cloud companies among 50 China entities in US export blacklist
Companies from Taiwan, Iran, Pakistan, South Africa and United Arab Emirates also were included in the roughly 80 companies added to the "entity list" of the commerce department's Bureau of Industry and Security (BIS). Six are subsidiaries of the Inspur Group, China's leading cloud computing and big data service provider which was listed in the US government's entity list in 2023.
China slams US 'interference' in Venezuela over Trump oil tariff threat
China has accused the United States of interfering in Venezuela's domestic affairs after President Donald Trump announced 25 percent tariffs on imports from countries buying Venezuelan oil. The new tariffs, effective from April 2, target nations including China, the largest importer of Venezuelan oil.
PNGRB's gas tariff amendments could benefit city gas distribution: Probal Sen
ICICI Securities' Probal Sen discusses the impact of potential tariffs on Venezuelan crude, India's ability to replace these imports, and the implications of public consultation on gas tariffs by PNGRB. Sen also addresses the significance for city gas distribution companies, LPG under-recoveries expectations, and Brent and WTI crude price projections.
Venezuela oil import: Trump's new trade tariff twist may shake up India's cost game, China not spared
Oil Import Tariffs: US President Donald Trump said they will impose 25% tariff on oil and gas imports targeting countries buying Venezuelan crude from April 2. The decision could impact India's energy sector significantly, as it relies heavily on Venezuelan oil. Indian refiners might need to look for alternatives, including increased Russian oil imports, to offset added costs.
Oil edges higher on tighter supply concerns
Oil prices increased in early Asia trade due to concerns about tighter supplies after US President Trump threatened tariffs on countries importing oil from Venezuela. Additionally, US crude inventories fell significantly more than expected, further supporting the climb in oil prices.
Trump threatens India & other Venezuelan oil importers with new 25% tariff
US President Donald Trump announced a 25% secondary tariff on countries importing oil and gas from Venezuela, effective April 2, 2025. This action aims to penalize Venezuela for allegedly sending criminals to the U.S.
Trump’s threat of ‘secondary tariffs’ invents new trade weapon
US President Donald Trump has introduced 'secondary tariffs' to target countries, mainly China, buying oil from Venezuela. These 25% tariffs aim to further isolate Venezuela, under US sanctions. The move seeks to leverage America's economic power in foreign policy, potentially escalating tensions and impacting trade with the nations involved.
Sensex crashes 750 points from day's high, trades flat; RIL & ICICI Bank lead the fall
Indian benchmark indices traded flat after an initial rise on Tuesday. Gains in stocks like HDFC Bank and IT were offset by losses in Reliance and ICICI Bank. The Nifty IT index surged 1.3% as tariff concerns eased. Experts attribute the recent rally to foreign capital inflows and improving Indian economic conditions.
Oil prices little changed as investors weigh impact of Trump tariffs
Oil prices remained steady as investors weighed U.S. tariffs on Venezuelan oil and gas against potential economic impacts on global oil demand. Brent crude and U.S. West Texas Intermediate both saw slight increases. The market remains cautious amid U.S. sanctions on Iran and Venezuela, while OPEC+ plans to raise oil output amidst ongoing Ukraine peace talks.
Donald Trump fires fresh tariff salvo, targets countries that purchase oil, gas from Venezuela
U.S. President Donald Trump said that the "secondary tariff" will take effect on April 2.
Oil slides further as investors eye Trump 2.0 policies; Brent crude hits $78.93/bbl
Oil prices dipped on Wednesday extending the previous session's declines as markets weighed U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and eyed his tariff policies.
Brent crude slips to $79.5 as traders digest Trump tariff reprieve, plan to boost US oil output
Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump's plans to apply new tariffs later than expected while boosting oil and gas production in the United States.
Oil prices tick down on plan to boost US oil output, tariff reprieve
Oil prices fell in Asian trading after President Trump announced plans to increase U.S. oil and gas production. He also delayed new tariffs on imports from Canada and Mexico. Trump said he was considering stopping oil purchases from Venezuela and promised to refill strategic reserves, potentially increasing demand for U.S. crude oil.
Crude price nears red zone, may hit demand if it tops $85-90 level
The EIA reported crude supplies rose by 8 million barrels for the week ended September 28.
Crude to trade in $80-$85 range as bearish sentiments take over
Weakening currencies in major Asian oil importers are expected to cap rising oil prices.
How is oil going to behave? Iran, US and China hold clue
Oil has rebounded in recent weeks. The reasons for the recent rebound are many.
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