After Venezuela’s state-run oil company PDVSA and ONGC Videsh Ltd. (OVL), last year signed a deal allowing the latter to get 17,000 barrels per day (bpd) of oil to recover dues of about $540 million, OVL received the first installment of $19 million in end of January. OVL has invested $200 million in the San Cristobal field in Venezuela and had not received any dividend since 2009. The two companies also agreed that ONGC will arrange a loan of $320 million to boost output from the field,…
On 4 November, India’s ONGC (Videsh) Ltd – OVL and Venezuelan national oil company PdVSA signed two agreements. PdVSA currently owes ONGC about $600 million and will ‘give a volume of crude every month... total dues will be squared off in a couple of years.’ Funds from crude oil sales by PdVSA are to be deposited in an escrow account. ONGC agreed to invest $ 318 million to increase production in the Orinoco San Cristobal field, from around 18,000 bpd to 27,000 bpd.…
Fidel Castro passed away on 26 November, ending an era. After he handed over power to his younger brother Raúl in 2006, because of ill health, and the presidency de jure in 2008, Cuba began changing slowly. The monolithic communist political economy Castro had overseen for almost half a century welcomed foreign investment and private enterprise, subject to conditions, and loosened restrictions on movement and ownership for its citizens. Castro saw the US government re-establish diplomatic…
Ms Delcy Rodriguez, Foreign Minister of Venezuela visited Delhi and met External Affairs Minsiter Ms Sushma Swaraj to hand over the invitation to the XVII NAM Summit being held in Venezuela on 17-18 September, 2016. She was accompanied by the Venezuelan Minister of Petroleum, Mr Eulogio del Pino who met Minister of Petroleum and Natural Gas, Mr Dharmendra Pradhan.
The Indian side reiterated its long-standing proposal for an oil-for-export mechanism for payment of pending dues…
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Ambassador Deepak Bhojwani
Former Ambassador of India to Colombia, Venezuela and Cuba and Distinguished Fellow, Ananta Centre
Ambassador Deepak Bhojwani joined the Indian Foreign Service (IFS) in 1978. He retired in February 2012. During his career, he was accredited as Ambassador in seven Latin American countries, resident in Colombia, Venezuela and Cuba, concurrent in Ecuador, Costa Rica, Cuba and the Dominican Republic, and was Consul General in Sao Paulo. He served abroad in three Continents – Asia (Indonesia and Malaysia), Europe (Spain and Czech Republic) and Latin America.
In the Ministry of External Affairs, he served in the Divisions dealing with Administration; West Asia and North Africa; US and Canada; and had a brief stint at the United Nations.
Ambassador Bhojwani also served as Private Secretary to the Prime Minister of India, Mr P.V.Narasimha Rao for two years from 1994 to 1996, and as Special Assistant to the Minister of State for External Affairs and for Science and Technology, Mr K.R.Narayanan, from 1985 till 1988.
He writes extensively on Latin America and its relations with India. He has written a book published in 2015 titled ‘Latin America, the Caribbean and India: Promise and Challenge’.
He is currently a Consultant for Latin America and the Caribbean through his firm LATINDIA (www.latindia.in)
Ambassador Bhojwani also serves as Independent Director on the Board of Bharat Petroleum Corporation Ltd., one of the largest state oil and gas companies of India.
Since January 2017 he has been Country Manager and Director, Magotteaux Industries Pvt. Ltd.