Venezuela suspends oil exports to India: Azeri energy ministry

Above, oil platforms over Maracaibo lake in Maracaibo, Venezuela. (AFP)
Updated 19 March 2019

Venezuela suspends oil exports to India: Azeri energy ministry

  • The Indian market has been crucial for Venezuela’s economy because it has historically been the second-largest cash-paying customer

BAKU: Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela’s oil minister.
The Azeri ministry issued the statement on Tuesday following talks in Baku between Azerbaijan’s energy minister and Venezuelan oil minister and president of state-run oil company PDVSA, Manuel Quevedo.
“At the meeting ... Quevedo said in order to prevent a sharp reduction, various measures are being implemented and diversification of the export market is underway,” the statement said.
“Russia and China are seen as the main destinations because of the suspension of oil exports to India,” the statement said.
The Indian market has been crucial for Venezuela’s economy because it has historically been the second-largest cash-paying customer for the OPEC country’s crude, behind the United States.
Earlier this year, the United States imposed heavy sanctions on Venezuela’s oil industry and has pressed India to stop buying Venezuelan oil.
OPEC and other oil ministers met in Baku in talks over the weekend that ended on Monday.


Key to success is passion: PepsiCo official

“I always think success is married with passion,” Simon Lowden said, adding that he likes to get involved with ideas that excite him
Updated 14 November 2019

Key to success is passion: PepsiCo official

  • Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

RIYADH: The key to success is being passionate about what you do, Simon Lowden, chief sustainability officer at PepsiCo, told a brainstorming session at the Misk Global Forum in Riyadh on Wednesday.

“I always think success is married with passion,” he said, adding that he likes to get involved with ideas that excite him.

“I started my life in a small farming village, went to London to attend university, joined PepsiCo … and now I run our sustainability agenda,” he said. “This made me rich as a person, and I did things I really enjoyed.”

Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

Other panelists included Dave Brooke, vice president of client solutions at Dell Technologies; Kevin Gaskell, an international speaker on leadership and business performance; Deloitte CEO David Sproul; and Nancy Yammout, general director of the NGO Rescue Me. The session was moderated by Lebanese journalist and politician Naufal Daou.