FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

India to Raise Crude Flow from Iraq & Mexico After Venezuela Sanctions: FGE

OIL

India is expected to increase imports of oil grades comparable to Venezuela’s crude after the US reinstated sanctions on the country’s oil and gas sector, according to FGE this week.

  • Iraq’s Basrah Heavy and Mexico’s Maya crude are alternatives to the heavy-sour Merey grade from Venezuela.
  • India’s imports of Venezuelan Merey crude averaged 110kb/d in January-April mostly purchased by Reliance but also by Indian Oil and HMEL.
  • Delivered prices of Venezuelan crude were about $15/bbl cheaper than average prices of Russian crude at around $60-$62/bbl in Jan.-Feb., according to India’s Ministry of Commerce and Industry data.
  • FGE expect Venezuelan crude is likely to be redirected to China under the guise of ‘diluted bitumen.’
Energy BulletsHomepageBulletCommodities
Energy BulletsHomepageBulletCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.