WebinarsNew
Deep DiveNew
Explore Business Standard
US Secretary of State Marco Rubio on Tuesday described India as a refining superpower, adding that the US delegation will discuss with Reliance about producing oil in Venezuela. Asked what role India can play in meeting the world's energy demand, Rubio, who arrived in Mumbai this afternoon on a three-day India visit, said, "India is a refining superpower. They have the capability to refine heavy crude. They've done so in the past, and I think as more and more Venezuelan oil comes online, it's something they can do." "They also, by the way, have pre-existing oil concessions in Venezuela that can produce more themselves," Rubio told reporters in Mumbai. He said all these are positive things. "I'm not claiming to you that Venezuela alone can fill the hole that could be caused by some of the things that are happening around the world, but I think over time, it most certainly can, and in the short term, it can certainly help. "So, that's one of the things we'll talk about. With India,
US prosecutors unveiled sweeping new criminal charges against former Venezuelan President Nicolas Maduro on Thursday, accusing him and his wife of heading a state-sponsored system of repression responsible for beating, asphyxiating, and delivering electric shocks to scores of victims, including several Americans. The torture charges add to pressure on the ousted authoritarian leader and his wife, Cilia Flores, who were seized from their Caracas home by the US military in January to face drug trafficking charges in New York. The updated indictment "alleges conduct that is truly unthinkable," US Attorney Jamie McDonald said outside the Manhattan courthouse where the case is being handled. "This is the epitome of corruption." Maduro denies the charges and "looks forward to his day in court," lawyer Barry Pollack said. Flores' attorney said he hadn't yet had time to review the new allegations. The indictment claims Maduro suggested torture methods, sought and received updates on specif
Former Venezuelan President Nicolas Maduro and his wife asked a judge on Wednesday to dismiss the drug trafficking indictment against them on the grounds that they have immunity as the leader and first lady of a foreign country. In papers filed in Manhattan federal court, lawyers for Maduro said a judge was required by law to reject the indictment because it cannot be brought against a foreign leader. "No American court has ever presided over the criminal trial of a foreign leader who was recognised by their own country as the sitting head of state at the time the charges were brought," the lawyers wrote. "That is not an accident of history. It reflects a rule older than the common law: heads of state are exempt from the criminal process of any national court but their own." Maduro and his wife are scheduled to go on trial on drug trafficking charges next June 1. Judge Alvin K. Hellerstein has set oral arguments for November 17 on motions to dismiss the indictment. Maduro, 63, and
Oil giant Chevron is confirming that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Joint venture plans include investing more than USD 7 billion over the next five years, more than doubling production to approximately 6,00,000 barrels a day compared to 2026. "Chevron's history in Venezuela spans more than a century, and our expanded position reflects our confidence in the country's deep resource potential and its ability to compete for investment within our portfolio for decades," CEO Mike Wirth said in a prepared statement. "With improved terms and additional acreage, we are strengthening a portfolio that we believe can deliver attractive low-cost oil growth, support energy supply and create ...