Reliance, Chevron defend against US criticism of oil business with Venezuela

The White House has yet to enforce secondary sanctions announced in August aimed at non-US companies buying Venezuelan oil.

Air India owes Rs 4,500 cr in fuel dues; hasn't paid in 200 days: Oil cos

Air India offered to pay Rs 60 crore which is a drop in the ocean of what oil marketing companies owe.

The sanctions, which would come into force from November 4, are likely to block current payment routes used to pay for Iranian imports.

Reliance, which produces a fourth of India's aviation turbine fuel, wants access to the pipelines.

Move to open up additional revenue opportunities for incumbent companies.

Oil Minister Dharmendra Pradhan said the government has nothing to do with fuel pricing.

India is dependent on imports to meet its 80 per cent of the demand and more than half of its natural gas requirements.

Oil fields went to smaller firms like Megha Engineering & Infrastructure,, Enquest Drilling and Nippon Power.