Shipments to India soared by more than fourfold in March, surpassing those to the US, according to shipping reports compiled by Bloomberg & data from maritime intelligence firm Kpler.
Up to 7-8 million barrels of Venezuelan oil is expected to arrive in India over the next month while US waiver also opens window for stranded Iranian crude oil.
Indian refiners are testing Venezuelan barrels again as Russian supply sinks, but analysts say volumes will remain limited due to refinery constraints & supply capacity.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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