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Amazon Pay LaterWelcome to the terms and conditions for Amazon Pay Later ("Terms"). These Terms are applicable between you and Amazon Pay (India) Private Limited ("Amazon") for the transactions for purchase of goods or services you make through select online medium, platforms or marketplaces ("Digital Property") using the "Amazon Pay Later" payment method ("Amazon Pay Later") . It is clarified that these Terms are applicable only if Amazon Pay Later is available for payment on the Digital Property. These Terms are applicable in addition to any terms and conditions that may be applicable to your use of the Digital Property where Amazon Pay Later is available as a payment option.The following terms & conditions apply to any and all transactions made on Digital Property using the Amazon Pay Later payment option:-Amazon Pay Later is a payment option available to certain select customers to make payments on the Digital Property . Amazon Pay Later option may only be available for purchase of select good or services on the Digital Property.If a customer choses to paying using Amazon Pay Later , the customer will transact with one of our Lenders (“Lending Partner”). Under Amazon Pay Later, Lending Partner will provide a credit facility to the customers to make purchases on the Digital Property and make payments for the same on a deferred basis in instalments ("Facility"). Prior to providing the Facility, Lending Partner may (in its discretion) conduct credit approval checks for the customerProvision of the Facility is at the discretion of Lending Partner, and Lending Partner reserves the right to reject (exercisable in its discretion) the Facility to a customer, with or without any notice or reason and without any liability.Amazon has no role to play pertaining to the offering of the Facility or the terns on which the Facility is provided by Lending Partner, including but not limited to its issuance, approval, extension, pre-closure or closure of the Facility and such matters are solely determined by Lending Partner .As a pre-requisite to avail the Facility, a customer must have a valid Online Shopping site in India: Shop Online for Mobiles, Books, Watches, Shoes and More account, a PAN (permanent account number) card, and an officially valid document as address proof. The customer must also have a bank account with one of the specified banks in India. Lending Partner may specify the banks for this purpose from time to time, which will be listed on Lending Partner's website.In order to avail the Facility, the customer must enter into a loan agreement with the Lending Partner ("Loan Agreement") as an essential pre-condition, in the form notified by the Lending Partner.You may also be required to make a pre-payment to the Lending Partner towards the Facility extended by the Lending Partner.Amazon Pay Later can only be used for purchases on the Digital Property if the customer has sufficient balance / limit available under the Facility granted by Lending Partner.The amount of the Facility may be modified and the Facility may be cancelled by Lending Partner in its sole discretion, and without assigning any reason and without any liability. Amazon has no role in this regard.Repayment of the Facility is governed by the terms notified by the Lending Partner from time to time. Amazon and its Lending Partners may make various modes and mediums available for repayment of the Facility, which may be made using the Online Shopping site in India: Shop Online for Mobiles, Books, Watches, Shoes and More mobile application.Availing the Facility is governed by the terms and conditions prescribed by Lending Partner mentioned below and any other terms that Lending Partner may notify from time to time.By using Amazon Pay Later, by availing the Facility provided by Lending Partner , each customer hereby fully and unconditionally releases and completely discharges Amazon and its affiliates against any claims (howsoever arising) in respect of availing of the Facility, and all such claims (if any) will lie only against Lending PartnerIf a customer consents for Lending Partner to collect any data / information from Amazon, such customer consents for and permits Amazon to share with Lending Partner , the data / information (so requested by Lending Partner ) of such customer in possession of Amazon, which was collected from the said customer by Amazon in respect of the customer's KYC for other products offered by AmazonThe customers also agree and acknowledge that Amazon and its affiliates will not be liable or responsible for any claim on account of availability or non-availability of Amazon Pay Later facility on Online Shopping site in India: Shop Online for Mobiles, Books, Watches, Shoes and More.Amazon reserves the right to cease to make Amazon Pay Later available as a payment option, at any time without prior notice and without any liability.By using Amazon Pay Later by availing the Facility, the customer acknowledges that Amazon and its Lending Partner may use the customer's data in connection with the Facility, including without limitation for processing and activation of the Facility. In this regard, the customer agrees and consent for Amazon to share the information or data pertaining to the customer with Lending Partner.The customers agree that Amazon and its affiliates will not be liable for any losses or damages suffered by the customers on account of use of Amazon Pay Later or the Facility, including as a result of any fraud in connection with such use.If an order for which payment has been made using the Amazon Pay Later facility is cancelled, any refund to the customers or cancellation of the Facility will be undertaken by Lending Partner. The customers hereby agree and acknowledge that Amazon has no role in this regard and that Amazon will not be liable or responsible for any claim on this account.Amazon will not be held liable for any dispute arising out of or in connection with use of the Amazon Pay Later payment option or the Facility.You authorize Amazon and/or its Lending Partner to communicate with you, through emails or SMS or notifications on websites / mobile applications or any other mode, in connection with use of the Amazon Pay Later or the Facility. You acknowledge that Lending Partner may communicate with you through IVR or telephonically.Please contact Lending Partner for any queries in relation to the Facility or Amazon for any queries in relation to availability of Amazon Pay Later.Listed below are the terms and conditions for each of Amazon's Lending Partners.Capital Float Facility: Terms and ConditionsI confirm that I have carefully read and fully understood all the terms and conditions that are listed online at https://www.capitalfloat.com/terms-of-use.html and those applicable to availing financing / loan from CapFloat Financial Services Private Limited, formerly known as Zen Lefin Private Limited ("Capital Float" or "Lender") and privacy requirements that are listed online at & https://www.capitalfloat.com/privacy-policy.html. I accept the terms & conditions unconditionally and agree that these terms and conditions may be amended or modified by Capital Float at any time and I will be bound by the amended terms & conditions that are in force.I understand that sanction of the loan(s) is at the sole discretion of Capital Float.I shall indemnify Capital Float (its agents, employees, officers and directors) against all or any losses suffered by Capital Float (its agents, employees, officers and directors) on account of breach of undertakings, representations and warranties by me including any legal action / proceedings initiated by me or any third party in connection with this Agreement and unauthorized access to or storage of my information or Personal Data by Capital Float (its agents, employees, officers and directors) which are solely attributable to any breach, negligence or fraud by me.I declare that all the particulars and information and details given / filled in the application form provided by Capital Float and information provided by me to Capital Float are true, correct and accurate and I have not withheld / suppressed any material and relevant information from Capital Float.I also authorize NSDL e-Governance Infrastructure Limited (NSDL e-Gov) to and in respect of the following activities, on behalf of Capital Float:Use my Aadhaar details for KYC proof, enabling me to eSign the loan agreement and/or eSign the Mandate and authenticate my identity through the Aadhaar Authentication system (Aadhaar based e-KYC services of UIDAI) in accordance with the provisions of the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016 and the allied rules and regulations notified thereunder and for no other purpose;(b) Use my Aadhaar details for KYC proof, enabling me to eSign the loan agreement and/or eSign the Mandate and authenticate my identity through the Aadhaar Authentication system (Aadhaar based e-KYC services of UIDAI) in accordance with the provisions of the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016 and the allied rules and regulations notified thereunder and for no other purpose;(c) Authenticate my Aadhaar through one-time password ("OTP") or Biometric for authenticating my identity through the Aadhaar Authentication system for obtaining my e-KYC through Aadhaar based e-KYC services of UIDAI and use my Photo and Demographic details (Name, Gender, Date of Birth and Address) for KYC proof, in connection with the loan agreement and the Mandate and for no other use / purpose;(d) I agree that Capital Float may avail services from any third party to conduct Aadhaar based KYC authentication i.e. authentication services provided by UIDAI, where my personal identity information /data that is obtained from me and matched with the personal identity information/data that is stored in the UIDAI's central identity data repository in order to provide Aadhaar enabled services to me;I agree that Capital Float may receive and update credit reports from any/all credit bureaus or any other agency/ regulatory authority as required and as permitted under applicable lawCapital Float makes no representations about:the timeliness, of the services contained on the Capital Float its website and/or mobile application for any purpose; andthe suitability, reliability, availability, of the services contained on the Capital Float website and/or mobile application for any purpose.Capital Float shall (and shall procure that the its agents, employees, directors and officers shall) comply with all Data Protection Legislations and such compliance shall include, but not be limited to, maintaining a valid and up to date registration or notification (where applicable) under the Data Protection Legislation. For the purpose of this Agreement, "Data Protection Legislation" means the legislation and regulations relating to the protection of Personal Data and processing, storage, usage, collection and/or application of Personal Data or privacy of an individual including (without limitation):the Information Technology Act, 2000 (as amended from time to time), including the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 ("Privacy Rules") and any other applicable rules framed thereunder;all other applicable banking industry guidelines (whether statutory or non-statutory) or statutorily-backed codes of conduct relating to the protection of Personal Data and processing, storage, usage, collection and/or application of Personal Data or privacy of an individual issued by any regulator and applicable to us to any of the Parties; andany other Applicable Law solely relating to the protection of Personal Data and processing, storage, usage, collection and/or application of Personal Data or privacy of an individual.By availing the loan from Capital Float under these terms and conditions, you acknowledge that Capital Float may use your data or information in connection with the loan, including without limitation for the processing of the loan application. In this regard, the customer agrees and consent for Capital Float to share the information or data pertaining to the customer with any third party which is involved in the processing of the application, or use of the loan facility etc.I hereby declare that no other account has been opened nor will be opened using the OTP based KYC in non face-to-face mode.Capital Float reserves the right to cancel / suspend the services of the loan if in Capital Float's opinion security of the website and/or mobile application or of the data could be compromised for any specific customer, without assigning any reasons.I/We further authorize Capital Float and all its group companies to keep me/us informed (vide telephone, SMS, mail, E-mail etc.) of all such promotional schemes and/or activities as they may require.IDFC Facility: Terms and ConditionsThe Borrower hereby irrevocable and unconditionally agrees to abide by the following Terms:Pursuant to the application made by the Borrower, available electronically in connection with these Terms, ("Application"), the Bank has agreed to sanction the loan amount not exceeding the amount notified to the Borrower, including through electronic means (hereinafter referred to as "Loan Amount"), and the Borrower agrees to borrow the same, subject to and upon these Terms other terms and conditions notified to the Borrower. The Bank may disburse the Loan Amount or any part thereof ("Disbursement") in accordance with these Terms or any other conditions agreed with the Borrower. The Borrower shall use the Loan Amount only for the purchase of goods or services by the Borrower on the website(s) or e-commerce platform(s) where the facility to access the Loan Amount is made available by the Bank and where these Terms are published (each such website or platform, "Website") and not for any other purpose including making investment in the capital market or any speculative or illegal or anti-social purpose.The Loan Amount, interest and late payment fees payable, costs and expenses reimbursable as outstanding from time to time and whether any of them due or not less any Loan Amount already paid to the Bank, are hereinafter collectively referred to as "Outstanding Balance". The Borrower shall pay interest on the Loan Amount, the unpaid due interest and all other outstanding charges (except the default interest), at the rate of interest notified to the Borrower, including through electronic means together with these Terms, on the outstanding daily balance from the date of disbursement. The rate of interest applicable to the Loan Amount may change from time to time, , which will be intimated to the Borrower(s) and the same shall be binding upon the Borrower. The Borrower (shall repay the Loan Amount and pay the interest that is due from time to time by way of equated monthly instalments ("EMIs") as may be specified by the Bank from time to time (time being the essence of the contract).Any payments made by/on behalf/for the Borrower or any realisations in relation to the Loan Amount shall be appropriated towards the Outstanding Balance and /or Liabilities (as defined hereinafter) in the following order: (a) firstly, towards costs and expenses incurred by the Bank; (b) secondly, towards any charges, commissions, fees, taxes, levies (wherever applicable); (c) thirdly, towards additional/default interest; (d) fourthly, towards interest; and (e) fifthly, towards principal Loan Amount(s). Any statement of account furnished by the Bank shall be accepted by and be binding upon the Borrower(s) and shall be conclusive proof of the correctness of the amounts mentioned therein except for any manifest error therein.Notwithstanding anything stated in any document, the Disbursement of the Loan Amount shall be at sole an absolute discretion of the Bank. Further, the Bank may at any time in its sole discretion and without assigning any reason call upon the Borrower to pay the Outstanding Balance, if due or not paid on or before the relevant date and upon such demand by the Bank, the Borrower shall, within 48 hours of being so called upon, pay the whole of the Outstanding Balance to the Bank without any delay or demur.The Borrower shall be entitled to prepay the Loan Amount. However, such prepayment shall take effect only when entire Outstanding Balance, including the broken interest period, has been paid by the Borrower and also realised by the Bank.The Borrower shall furnish and create such security from time to time in favour of or for the benefit of the Bank, of such value, in such form and in such manner, as may be deemed fit by the Bank, forthwith upon so required by the Bank. The Bank shall also have the right to stipulate any other and further terms and conditions that it may deem fit at any time prior to or after the grant of the Loan Amount, which shall be binding on the Borrower, provided such terms and conditions have been notified to the Borrower in advance on the Website and through such other medium as the Borrower may determine.The Borrower represent and warrants that (which shall be deemed to have been repeated to the Bank on the date of Disbursement and on each date thereafter till entire repayment): (a) the Borrower is a citizen of India and a major (in terms of age) and is of sound mind and is competent to contract and enter into and perform his/her obligations contemplated under these Terms or any other document in respect of the Loan Amount; (b) there is no impediment or restriction, whether under law, judgment, order, award, contract or otherwise, for any of the Borrowers entering into and/or performing its obligations under these Terms in respect of the Loan Amount and all approvals and consents, wherever necessary have been duly obtained and are and will continue to be in full force; (c) the execution hereof constitutes legal, valid and binding obligations of the Borrower; (d) there is no Event of Default (as defined herein below) existing; (e) all declarations made by Borrower are true and complete and no material information has been suppressed /withheld.In addition to the payment modes set-out at Clause 2 above, the Borrower may make payments towards the Outstanding Balance at a branch location operated by the Bank and such payment shall amount to a discharge of the Borrower in accordance with these Terms.The following events shall constitute events of default (each an "Event of Default"), and upon the occurrence of any of them, the entire Outstanding Balance shall become immediately due and payable by the Borrower and further enable the Bank inter alia to recall the entire Outstanding Balance and/or enforce any security and transfer/sell the same and/or take, initiate and pursue any actions/proceedings as deemed necessary by the Bank for the recovery of the dues: (a) failure on Borrower's part to perform any of the obligations or terms or conditions or covenants applicable in relation to the Loan Amount including under these Terms including non - payment in full or any part of the Outstanding Balance when due or when demanded by the Bank provided the Borrower is provided reasonable time for payment of the amount demanded; (b) any misrepresentations or misstatement by the Borrower; or (c) occurrence of any circumstance or event which adversely affects Borrower's ability/capacity to pay/repay the Outstanding Balances or any part thereof; (d) the event of death, insolvency, failure in business, commission of an act of bankruptcy of the Borrower.The Bank shall at any time, without any consent of or notice to the Borrower(s) be entitled to securitise, sell, assign, discount or transfer all or any part of the Bank's rights and obligations under the Loan Amount or these Terms, to any person(s) and in such manner and on such terms as the Bank may decide. Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights, the benefit or obligation under the Loan Amount, this / other document.The Bank shall also be entitled to communicate in any manner it may deem fit and in accordance with the guidelines laid down by the RBI, to or with any person or persons, person giving reference to Loan Amount, with a view to receiving assistance of such person or persons in recovering the defaulted amounts including but not limited to visiting the property and/or any place of work of the Borrower.The Bank shall be entitled at its discretion to engage/avail of, at the risk and cost of the Borrower, services of any person/third party service provider/agent/ agency, for anything required to be done for/in relation to/pursuant to the Loan Amount, including collections, recovery of dues, enforcement of security, getting or verifying any information of the Borrower, and any necessary or incidental lawful acts /deeds/matters and things connected thereto, as the Bank may deem fit.The Bank shall have the right to not return the photographs, information and documents submitted by the Borrower. The Bank shall, without notice to or without any consent of the Borrower, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to Borrower including personal information, details in relation to documents, Loan Amount, defaults, security, obligations of Borrower, to the Credit Information Bureau of India (CIBIL) and/or any other governmental/regulatory/statutory or private agency/entity, credit bureau, RBI, the Bank's other branches/subsidiaries/affiliates/rating agencies, service providers, other banks/financial institutions, and third parties, any assigns/potential assignees or transferees, who may need the information and may process the information, publish in such manner and through such may be deemed necessary by the publisher/the Bank/RBI, including publishing the name as part of willful defaulter's list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes. In this connection, the Borrower waives the privilege of privacy and privity of contract. The Bank shall have the right, without notice to or without any consent of the Borrower, to approach, make enquires, obtain information, from any person including other banks/finance entities/credit bureaus, to obtain any information for assessing track record, credit risk, or for establishing contact with the Borrower or for the purpose of recovery of dues from the Borrower.Privacy:The Bank discourages the Borrower from sending or posting to the Bank's website any information that the Borrower considers to be confidential or proprietary. Please note that if the Borrower do sends or posts any such information or material, the Bank will assume that it is not confidential. By sending or posting any information or material, Borrower grants the Bank an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and you agree that the Bank is free to use any ideas, concepts, know-how or techniques that you send or post for any purpose on this web site.The Bank may be required to disclose the Borrower's personal and financial information to the statutory authorities in connection with any legal process that may be initiated by such authorities in accordance with applicable laws.The Bank may also share customer information to provide customers with superior services and a range of offers. The Bank may use this information to advise customers about products, services and other marketing materials, which the Bank think may be of interest to customers. The Bank shall further reserves the right to disclose the information to any third party if the disclosure of the same is for getting any additional service, products which may be beneficial to the customer, as per the sole assessment and discretion of the Bank.The Bank will limit the collection and use of customer information only on a need-to-know basis to deliver better service to the customers. The Bank may use and share the information provided by the Customers with its Affiliates and third parties for providing services and any service-related activities such as collecting subscription fees for such services, and notifying or contacting the Customers regarding any problem with, or the expiration of, such services. In this regard, it may be necessary to disclose the customer information to one or more agents and contractors of the Bank and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from the Bank only for these purposes. The customer authorizes the Bank to share all information or data regarding the customer with any third party that facilitates or enables the provision, offering or utilization of the Loan Amount. The customer authorises the Bank to exchange, share, part with all information related to the details and transaction history of the customer to its Affiliates/ other banks/ financial institutions/ credit bureaus/ agencies/ participation in any telecommunication or electronic clearing network as may be required by law, customary practice, credit reporting, statistical analysis and credit scoring, verification or risk management or any of the aforesaid purposes and shall not hold the Bank liable for use or disclosure of this information. The Bank values your relationship and will at all times strive. to ensure your privacy. Except to the extent disclosed to the Bank: (i) all the Borrower's contracts or agreements with, or any commitments to, any affiliates or group companies (if applicable) are on arms' length basis; (ii) the Borrower is an individual who is not a director or specified near relation of a director of a banking company (iii) the Borrower is an individual who is not a specified near relation to any senior officer of the Bank. The Borrower agrees that the Bank has an unconditional right to revoke and/or recall the entire loan facility granted under these Terms, if the disclosure as mentioned in this clause is found to be false.The Borrower shall ensure that the Borrower has not been declared a willful defaulterForce Majeure: Unless otherwise agreed with the Bank or in accordance with the orders of governmental or other statutory authorities, The Borrower shall be liable to perform or fulfil its obligations at all points of time and shall not delay/postpone performance, its obligations, in whole or in part, even on the ground of any force majeure event such as acts of God, floods, cyclones, earthquakes, fires, wars, riots, strikes, national emergency, or any other similar causes.Any notice, approvals, instructions, demand and other communications given or made by the Bank shall be deemed to be duly given and served if send by normal post, courier, registered post, facsimile electronic mail, personal delivery, short message service (SMS) or by pre-paid registered mail addressed to the Borrower's address, mobile number or email as given in the Application (or at the updated address on which the Bank's acknowledgment is duly obtained) ) such notice and service shall be deemed to take effect on the third working day following the date of posting thereof in case of normal post, courier, registered post, at the time of delivery if given by personal delivery, upon receipt of a transmission report if given by facsimile, upon sending the electronic mail or SMS if given by electronic mail or SMS. The Borrower undertakes to keep the Bank informed at all times in writing of any change in the mailing address, email id, phone and mobile number (s) as provided in the Application and to obtain the Bank's written acknowledgment on the intimation given to the Bank for any such change.The Loan Amount, this document/other documents, shall be governed by the laws of India. The Borrower hereto expressly agree that all disputes, differences and/or claim arising out of these presents including any dispute as to Outstanding Balance or as to constructions, meaning or effect of these Terms or as to the right and liabilities of the Parties hereunder shall be settled by arbitration to be held in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof and shall be referred to the arbitration of a sole arbitrator to be nominated by the Bank. In the event of death, refusal, neglect, inability or incapability of a person so appointed to act as an arbitrator, the Bank may appoint a new arbitrator. The award of the arbitrator shall be final and binding on all parties concerned. The arbitration shall be final and binding on all parties concerned. The arbitration proceedings shall be held at a branch of the Bank in Bangalore, as notified to the Borrower in advance and the arbitration shall be conducted in English language.These Terms and other documents have been explained to the Borrower in the language known to the Borrower and The Borrower has read and understood these Terms.The Borrower has agreed to accept these Terms after understanding the contents hereof.

Does Sandi Arabia desire to pump the missing oil from Iran & Venezuela ?NOTICE :Gas prices are continuing on the rise for several reasons one including the USA president…actions … They will hit $100,00 very shortly due to shortage as China has increased by 80% purchases to supply the mainland market. India is also a very big consumer after Japan.There is a shotage of over 7 millions barrels per day. due to Iran & Venezuela embargos.Reasons for the oil shortage and price increase :1-Iran Embargo… Some production cannot be sold under the embargo USA.2- Venezuela Embargo Production under 1,3 millions barrel per day.3-Citgo USA under a possible seizure by Conoco-Phillips. ($ 2,1 Billons USD jugement4-PVDSA Curacao temporaly seized by Conoco Phillips5-PDVSA Aruba & Bonaire & Saint Eustanius maritime termina;l storage mixing tanks seized.6-Lybia problems with the maritime terminal loading ( should be corrected7-China has become the largest consumer of oil 10,millions barrel per day.8- Canada has bought out Kinder Morgan Trans-Mountain Pipeline project to sell to China rather than selling to the USA ..versus the Keystone pipeline at big discount.This may be eliminating in the near future Canada oil sales to USA.9-Canada Alberta tar sands are in a July-August maintenance shut down.There is a reality missing in the equation ; Oil is pumped by two dozen mass producers; including OPEP. China is taking the largest increase every year by over 5% .China imported 281.1 million tonnes of crude in the first eight months of 2017, equivalent to 8.44 million barrels per day (bpd), according to customs data.This is up 12.3 percent on the same period in 2016, or about 950,000 bpd.This makes China the major contributor to global demand-growth so far this year, given that the International Energy Agency expects world oil consumption to rise 1.6 million bpd in 2017 from 2016. The growth in imports from Angola had matched the overall rate, it would have meant that China bought 1.02 million bpd, meaning Angola has supplied an extra 30,000 bpd over what it would have if it has just maintained its market share.Imports from Russia were 1.16 million bpd in the first eight months, a gain of 13.2 percent. This works out to an extra 10,000 bpd over the steady market share number.Iran has lost 83,000 bpd in the first eight months compared to China’s overall growth rate, while Iraq has forgone 17,000 bpd.For exporters outside the OPEC and allies deal, Brazil has been a large gainer, with exports in the first eight months rising 41.8 percent to 480,000 bpd, which is 100,000 bpd more than if they had merely matched China’s overall growth rate.The standout is the United States, with China importing 128,000 bpd in the first eight months, a massive leap of more than 1,000 percent, and an extra 116,000 bpd over what imports would have been if the growth rate matched China’s overall increase of 12.3 percent in the first eight months.In some ways the Chinese oil import numbers are a microcosm of the issues in the global crude market.China shows that the burden of rebalancing the market isn’t being shared evenly by those party to the production reduction agreement.It also shows that the Chinese have been able to quite easily replace supplies from those producers curbing output.Iran embargo by President Trump has created a big shortage as production is down significantly. Tehran is getting hit from all sides. Washington is telling buyers to stop all purchases of the country’s crude, while OPEC and its allies are bowing to U.S. pressure to raise output and fill the gap. Iran may be left with few options beyond convincing China to buy more of its oil, risking over-reliance on what’s already its biggest customer.“Iran is in a really horrible position right now,” said Sara Vakhshouri, head of Washington, D.C.-based consultant SVB Energy International. “There’s not really much Iran can do to maintain its export level.”Before last week’s meeting of the Organization of Petroleum Exporting Countries, Iran had been lobbying its fellow producers to condemn President Donald Trump’s “unlawful” re-imposition of sanctions and resist U.S. pressure to increase the group’s production. It failed on both counts as Saudi Arabia and Russia interpreted a vaguely worded agreement as a license to pump an extra 1 million barrels a day, making up for production lost by other members.Losing powerran is irrelevant to OPEC,” said Olivier Jakob, managing director of consultancy Petromatrix GmbH. “The OPEC communique was vague and the message was supplanted by the Saudis and Russians. So you can see who is in charge here.”After being largely abandoned by its fellow OPEC members, Iran was hit even harder by its greatest foe. The U.S. State Department announced it was aiming to drive the country’s oil exports to “ zero,” rejecting the gradual approach to sanctions President Barack Obama’s administration adopted back in 2012.It’s not clear the U.S. will achieve a full halt, since even American allies are displeased with its unilateral abandonment of the deal that curbed Iran’s nuclear program.“Korea, China, Japan have already expressed they cannot go for zero,” Iran’s OPEC governor Hossein Kazempour Ardebili said in an interview on Wednesday.Halting purchasesThe U.S. Department of Energy softened the Trump administration’s hard line on Thursday, saying sanctions on Iran may leave room for some buyers to cut back gradually.Still, Brouillette acknowledged that his agency doesn’t oversee sanctions and that the Treasury department will ultimately decide how stringently they’re enforced. There are plenty of other signs the sanctions could take out a significant share of the 2.5 MMbpd the Middle Eastern nation currently exports.In an interview with Bloomberg television last week, Oil Minister Bijan Namdar Zanganeh said buyers including France’s Total SA and Royal Dutch Shell Plc have already halted purchases. Total’s CEO Patrick Pouyanne said last month that it was unthinkable for any international company to risk being excluded from the U.S. financial system -- the penalty for buying Iranian crude beyond Nov. 4.Total’s position illustrates the immediate danger to Iran’s crude exports, but also the long-term damage they could inflict on the country’s oil and gas industry. The company has started to pull out of the South Pars 11 natural gas project, the largest investment by an international energy company in the country.Iran’s crude sales are set to drop by at least 500,000 to 600,000 bpd this year, with the shortfall potentially much higher given Tuesday’s announcement from the State Department, according to Vakhshouri. John Browne, former BP Plc chief executive officer and current chairman of L1 Energy Holdings Ltd., anticipated a drop of as much as 1.5 MMbpd.Iran is running out of options on oilThe USA CITGO Reffinery assets are on the point to be seized;for a $ 2,4 Billions Interrnational jugement.PDVSA Petroleos de Venezuela South America assets are seized in Curacao, Aruba, Bonaire,and The Saint Eustatius Fuel storage and Mixing / deep water supertankeder loading harbor and Saba.The infrastructures of Venezuela with all the oil they own , the second largest raffinery in the world. Venezuela has , a aluminum plant , steel plants, tire plants, Train plant, chemical plants, Industrial valve plants and many other industrial plants are operating at 20% or closed down.However . most are not in operating condition or totally dilapidated by the Maduro dictature. There is nothing operational left in Venezuela.CITGO TO POUR UP TO $600 MILLION INTO REFURBISHING MOTHBALLED ARUBA OIL REFINERYRefining is the process whereby hydrocarbons are transformed into by-products. PDVSA processes crude oil at 20 refineries: five in Venezuela and 15 in the rest of the world.Yes, BANKRUPCY of the Venezuelan state oil company PdVSA is a real option. This is what Minister Blok writes in a letter addressed to the House of Representatives in preparation for the Wednesday debate with the parliamentary committees for Foreign Affairs and Kingdom Relations.The minister also confirms in the letter that the European Union is considering: Blok writes about the situation of PdVSA: “Venezuela suffers a severe economic crisis (anticipated fall in GNP -15%), and very high inflation figures. Inflation was already more than 2000% in 2017, and the IMF estimates that the inflation rate has now increased to 13,000% on an annual basis. The accumulation of problems at state-owned oil company PdVSA, including corruption, collapsed production, major staff turnover and financial problems make the economic situation even more difficult and a possible bankruptcy a real option. Outstanding debts are still paid very slowly and more and more creditors are trying to get their money through seizures.The recent seizures by Conoco Phillips on PdVSA assets in the Caribbean parts of the Kingdom illustrate this. Approximately 90% of Venezuela's income comes from oil exports. Because Venezuela has to a large extent dependent on import for all kinds of goods including food, made possible by a high oil price, hardly invested in the diversification of its own economy.”Conoco Philipps' seizure of PDVSA Caribbean terminals "a disaster" for VenezuelaThe move by ConocoPhillips is part of an effort to fulfil a $2.04 billion arbitration ruling against PDVSA“This is terrible (for PDVSA),” said a source familiar with the court order of attachment. The state-run company “cannot comply with all the committed volume for exports” and the Conoco action imperils its ability to ship fuel oil to China or access inventories to be exported from Bonaire.At the International Chamber of Commerce (ICC), Conoco had sought up to $22 billion from PDVSA for broken contracts and loss of future profits from two oil producing joint ventures, which were nationalized in 2007 under late Venezuela President Hugo Chavez. The U.S. firm left the country after it could not reach a deal to convert its projects into joint ventures controlled by PDVSA.A separate arbitration case involving the loss of its Venezuelan assets is before a World Bank tribunal, the International Centre for the Settlement of Investment Disputes.Conoco Phillips is going all out to recover $2 billion it was awarded in arbitration from Venezuela. First it froze the assets of Venezuela’s state-run oil giant, Petroleos de Venezuela SA, at Caribbean harbors that serve as key waystations for much of Venezuela’s crude exports. Now it’s pushing to do the same in the U.S. with the USA Citgo Refinery network in Europe and Asia. The fight pits the world’s biggest independent explorer against the holder of the world’s most significant crude reserves, and it’s exploring some surprising legal territory. Lawyers for PdV and Conoco Phillips met yesterday in the Dutch-controlled island of Curacao & Aruba to hammer out execution seizure of an 18 May local court order that partially lifted liens that the US firm had levied on PdV’s local assets in a bid to collect a $2bn arbitration award, all over the PDVSA CARIBBEAN REFINERY SYSTEM AND FUEL STORAGE AND MIXING STATIONSHow does PDVSA continue under seizures ???Manyproducts are obtained from oil, from extremely volatile gases and liquids like gasoline to very thick fluids such as asphalt and even solids such as paraffin waxes. In general terms, the basic petroleum derivatives are: gas, motor gasoline, aviation gasoline, kerosene, diesel, solvents, lubricating bases, paraffin, fuel oil and asphalt.in -&nbspThis website is for sale! -&nbspAsphalt Resources and Information. addition to these by-products, PDVSA supplies materials to petrochemical plants and manufacturing companies to produce synthetic rubber, synthetic fibers, fertilizers, explosives, insecticides, medicines, toiletries, and thousands of other productsDomestic Refining & DISTRIBITION SYSTEM PDVSA's domestic refining business consists of six refineries: Amuay, Cardón, Bajo Grande, El Palito, Puerto La Cruz and San Roque, located in different parts of the country.In 2015, the volume of crude processed in the National Refining System was 863 thousand barrels per day (MBD) (the transfer of 3 MBD of residual to the crude processed at Refinery El Palito, from Puerto La Cruz Refinery is discounted). In addition, 149 MBD of inputs for processes and mixtures were received. 1,012 MBD of products were obtained with this level of crude and inputs, of which 290 MBD correspond to gasoline and naphtha, 282 MBD jet and distillate, 294 MBD residual, 14 MBD asphalt, 5 MBD to lubricants and 127 MBD to other products.Natural Gas Liquids (NGL)By the end of the 2015 a production of 117 thousand barrels per day (MBD) was achieved and LPG purchases were made for 25 MBD, obtaining an availability142MBD.Today, Petróleos de Venezuela, S.A.does not maintains a solid presence abroad, with strong commercial relationships with its partners in each country as well as nations with great investment potential in the oil industry as every plant are not in operation or condition.PetroaméricaThe Government of the Bolivarian Republic of Venezuela has introduced the Petroamérica initiative for the energy integration of the peoples of our continent, within the framework of the Bolivarian Alliance for the Peoples of Our America (ALBA) and based on the principles of solidarity and complementarity of the countries concerning the fair and democratic use of resources for the development of their peoples.Petroamérica adheres to the guiding principles of ALBA: energy integration, solidarity, complementarity, fair trade, promotion of investments in Latin America, and special and differentiated treatment of nations according to their capabilities. Both initiatives share the historical and fundamental purpose of uniting the capacities and strengths of the countries that comprise them for the joint definition of broad lines of common political action among states that share the same vision on the exercise of sovereignty, while developing their own identity.PDVSA AMERICA, S.A.PDVSA created in 2006 the subsidiary PDVSA América, SA in order to implement the Bolivarian Republic of Venezuela's energy policies in Latin America, the Caribbean and continent-wide, and position Venezuela as a regional energy power, while developing energy, political, cultural and economic relations favoring equity and social justice.PDVSA América focuses on strengthening the role of PDVSA as a reliable supplier of hydrocarbons and in establishing the market diversification strategy promoted by the Bolivarian Republic of Venezuela for the creation of a new world energy map, where Latin America becomes an energy hub.One of the strategies for the joint undertaking of various projects is setting up joint ventures, mostly with state-owned companies, so that countries become engaged in their own development and for the optimization of execution capacity.PETROCARIBEIn September 2005, PDVSA founded the subsidiary PDV Caribe, S.A., the result of the PETROCARIBE Agreement. PDV Caribe plans and executes the activities of transportation, reception, storage, distribution and commercialization of hydrocarbons, along with the necessary infrastructure projects to ensure the sovereign management of the energy resources in member countries.In 2015, PDV Caribe and its joint ventures reviewed their progress in achieving their goals to visualize their next steps and optimize internal processes, with the aim of increasing management efficiency.PDVSA JOINT VENTURES & LEASES -UNDER THE PETROCARIBE AGREEMENT• Antigua and Barbuda: WEST INDIES OIL COMPANY LTD. / Storage mixing tanks facility / (PDV Caribe, S.A. 25%, Government of Antigua and Barbuda 51% and Fancy Bridge Ltd. 24%).Bonaire, Saint Eustatius Fuel storage and Mixing / deep water supertankeder loading harbor and Saba (The Netherlands) Aruba,refinery- stotage , Curacao storage & refinery.• Belize: ALBA Petrocaribe Belize Energy Ltd. (PDV Caribe, S.A. 55% and Belize Petroleum and Energy Ltd. 45%).• Dominica: PDV Caribe Dominica Ltd. (PDV Caribe, S.A. 55% and Dominica National Petroleum Company Ltd. 45%)• Grenada: PDV Grenada Ltd. (PDV Caribe, S.A. 55% and Petrocaribe Grenada Ltd. 45%).• Jamaica: Petrojam Ltd. (PDV Caribe, S.A. REFINERY/ 49% and Petroleum Corporation of Jamaica 51%).• Nicaragua: ALBA de Nicaragua, S.A. ALBANISA ( PDV Caribe, S.A. 51% and PETRONIC 49%).• Dominican Republic: REFIDOMSA - PDV,S.A. REFINERY/ (PDV Caribe, S.A. 49% and Dominican State 51%).•Saint Kitts and Nevis: PDV St. Kitts Nevis Ltd. (PDV Caribe, S.A. 55% and St. Kitts Nevis Energy Company Ltd. 45%).•Saint Vincent and the Grenadines: PDV Saint Vincent and The Grenadines Limited (PDV Caribe, S.A. 55% and Petrocaribe St. Vincent and The Grenadines SVG Ltd. 45%).• El Salvador: ALBA Petróleos de El Salvador (PDV Caribe, S.A. 60% and the Asociación Intermunicipal Energía para El Salvador ENEPASA 40%).• Haiti: SOCIETE D´INVESTISSEMENT PETION BOLIVAR, S.A. (Petión-Bolívar) (PDV Caribe, S.A. 51% and Haitian State 49%).•Suriname: PDV SURINAME, N.V. (PDV Caribe, S.A. 50% and SURFUEL, N.V. 50%).PVDSA CUBA / REFFINERY, Products and servicesPDVSA Cuba works together with Cuba Petróleo (CUPET) to increase the potential of the Caribbean energy market, in exploration and production (upstream), as well as refining and marketing (downstream) processes, to promote the social progress of the Caribbean and Central American peoples through free and democratic access to energy at a fair and reasonable price.The PDVSA Cuba office in Havana makes possible to offer more support and attention to the region and implement projects for the production and commercialization of lubricants, fuels and other petroleum products to Central America and the countries of the Caribbean Basin. It also coordinates technological exchange and training of human resources in the hydrocarbons sector.• Projects and goalsPDVSA Cuba plans to build a strategic storage center for residual fuels in Matanzas, in western Cuba, with a capacity of 600,000 barrels per day, and restart the Cienfuegos refinery and terminal, located in the central region of the Cuban archipelago. Upstream, studies of the energy matrix of Cuba will be deepened, especially with regard to exploration and production in the Economic Zone of Cuba in the Gulf of Mexico.Downstream, a lubricant bottling plant will be developed with the participation of the National Lubricant Company (Cubalub) and the logistic support of PDVSA.ConocoPhilipps' seizure of PDVSA Caribbean terminals "a disaster" for VenezuelaVenezuela is in the grip of a deep recession with severe shortages of medicine and food as well as a growing exodus of more than 4 million of its people.PDVSA and the Venezuelan foreign ministry with Dutch authorities said they are assessing the situation on Bonaire.Conoco’s claims against Venezuela and state-run PDVSA & CITGO….seizures“Any potential impacts on communities are the result of PDVSA’s illegal expropriation of our assets and its decision to ignore the judgment of the ICC tribunal,” Conoco said in an email to Reuters.The situation of PdVSA: Venezuela PDVSA may close three of four refineries The refineries under threat are the 310,000 bbl/day Cardon, the 187,000 bbl/day Puerto la Cruz and the 146,000 bbl/day El Palito, according to Ivan Freites, head of an oil union representing PDVSA workers. The three facilities account for roughly half of the nation’s domestic refining capacity.The 645,000 bbl/day Amuay refinery, which along with Cardon forms the 955,000 bbl/day Paraguana Refining Centre, is also in danger of indefinite closure due to equipment failures that have paralysed several processing units, Freites said.Low oil prices and an economy in crisis have left PDVSA desperately short of funds to invest in exploration and production, reducing the availability of crude feedstock for its refineries. Detractors of the state-run industry also accuse the government of mismanagement and insufficient transparency.Venezuela’s refining circuit is currently processing about 390,000 bbl/day, or 30% of its installed capacity, Freites said.According to the union leader, PDVSA is considering the closures after negotiations to lease the Amuay and Cardon refineries to state energy firms PetroChina and Russia’s Rosneft ended in failure.Under the proposed lease agreement, PetroChina and Rosneft would have been required to cover 100% of the estimated $10bn in repair and modernisation costs of both facilities.The ever worsening situation in Venezuela is of great concern.French Guiana’s offshore oil: profit trumps environmental protection?On the economic, social, humanitarian and political level, the country is slipping further and further. The election victory of May 20 fits into a series of elections with which the Maduro government has strengthened its grip on the elected institutions but at the same time has lost its legitimacy and support among the population. A solution to the deep political, economic and humanitarian crisis seems far away. The run-up to these elections was controversial. Intensive negotiations between the government and opposition about the preconditions, including the balanced composition of the electoral council, the restoration of the functioning of the national parliament, the opening of a humanitarian channel and the release of political prisoners, came to nothing in February 2018.The European Union and other members of the international community (such as the US and the Lima group) have vainly called on the Venezuelan authorities several times in the run-up to the elections to allow political parties to participate on equal terms, to reform the electoral commission, to reach the opposition on an election calendar and to comply with all international standards. The lack of this did not allow the participation of independent international observation missions. The attendance rate of 46% determined by the electoral commission is the lowest in decades. Maduro won 68% of the vote against 21% for Falcon. Falcon did not recognize the election results due to unlawful elections.Amuay refinery Venezuela world second largest refineryBy Praveen DudduThe 10 biggest oil consuming nations account for more than 58% of the world's total oil consumption per day. The United States is the world's biggest oil consumer, followed by China, Japan and India. Hydrocarbons Technology - The leading site for news and procurement in the hydrocarbons industry profiles the 10 biggest oil consuming countries based on average daily oil consumption in 2012.China largest increase in oil consumption by over 5% yearly.China’s oil consumption stood at 10.3mbd in 2012, accounting for about 11.7% of the world’s total oil consumption making it the second biggest oil consumer after the US. China’s oil consumption has more than doubled since 2000 and the consumption in 2012 increased by five percent compared to the previous year.China is also the second biggest oil importing country in the world currently and its net oil imports have steadily climbed up from 3.43mbd in 2008 to 8,44 mbd in 2017. China’s total oil production during the period increased from 4mbd to 4.4mbd and the country is likely to surpass the US as the biggest oil importing country in the next months.For these reasons China is now the largest in the world manufacturing E;ectric Bikes, motorcycles & Cars.Solar panels and Wind energy, now larger that the nuclear production , in order to reduce their dependance on the imported Oil.1-Minister Blok: Bankruptcy PdVSA is a realistic option2-Petróleos de Venezuela S.A. (PDVSA)3--Minister Blok: Bankruptcy PdVSA is a realistic option4-ConocoPhilipps' seizure of PDVSA Caribbean terminals "a disaster" for Venezuela5-PDVSA Puerto la Cruz/El Chaure Refinery6-PDVSA El Palito Refinery7-PDVSA Amuay Refinery8-PDVSA Cardon Refinery9-Saint CroixChart:10-The Collapse of Venezuela's Oil Production | AS/COA11 -https://www.icis.com/resources/n...12-How Conoco's Fight With Venezuela Landed in Curacao: QuickTake14--List of countries by oil production - Wikipedia15--The 10 biggest oil consuming countries - Hydrocarbons Technology16--China crude oil import data show winners and losers from...17--Brent Falls Back On Saudi Supply Surge | OilPrice.com18--https://www.google.ca/search?q=c...: