Now India isn't getting paid by Venezuela

[GatoGordo]

They haven't paid Russia in a year. China won't comment if it has been paid or not. Now India.

https://www.reuters.com/article/us-venezuela-india-oil-exclusive/exclusive-venezuelas-pdvsa-misses-debt-payments-to-indias-top-oil-producer-idUSKBN1D90L4

Exclusive: Venezuela's PDVSA misses debt payments to India's top oil producer
Nidhi Verma

NEW DELHI (Reuters) - Venezuelan state oil-firm PDVSA has not made debt payments to India’s top oil producer ONGC (ONGC.NS) for six months, and has previously used a Russian state-owned bank and another Indian energy company as intermediaries to make payments, two sources familiar with the transactions said on Wednesday.

ONGC Videsh, the overseas investment arm of ONGC, confirmed that PDVSA had fallen behind on the payments, but declined to give details on the delays.

“They have got certain challenges at this stage,” ONGC Videsh said in an emailed response to Reuters’ questions. “They have assured that they are working on it (payment of dues). In due course it will be settled and follow up steps will be undertaken.”

“We have a good working relationship with PDVSA,” ONGC said.

PDVSA declined to comment.

-snip-

The highest reserves of oil on the planet, and they can't pump out enough to even feed the people.

[DetlefK]

1. The venezuelan oil is horrible quality.

The oil-sector has been taken over by the government, people have been fired... And whoever is in charge now doesn't know how to properly pump the oil: Venezuelan oil is full of dissolved metal, salts and water and there have been cases where foreign refineries have straight-up refused to accept venezuelan oil.

[GatoGordo]

2. The Rosneft mafia just spent 3 weeks in Venezuela, inspecting the refineries

that they are expecting to take over. Chavismo had to promise them something in order to "restructure" their billions in debt.

The refineries in China and India cannot accept the Heavy/Sour, contaminated crude that Venezuela is BARELY able to pump out of the ground (29% capacity). No refineries nearby can refine it either... except the US. That means Chavismo has to give SOMETHING to Putin, so that he can refine it in Venezuela to sell it abroad. (The Russians certainly are not going to loan any more money to the corrupt, Chavista dead-beats)