Venezuela Seeks Deeper Energy Partnership With India as Oil Trade Expands
According to reports, Venezuelan acting President Delcy Rodríguez has encouraged greater involvement from Indian companies in Venezuela’s oil industry during meetings in New Delhi with India’s Petroleum and Natural Gas Minister Hardeep Singh Puri. She highlighted what she described as complementary strengths between the two countries and invited Indian energy officials to visit Venezuela to explore new investment opportunities.
India, one of the world’s largest oil importers, has been actively diversifying its crude supply sources following disruptions in global energy routes, including instability affecting traditional shipping corridors. Venezuela, which holds some of the world’s largest proven oil reserves, has re-emerged as a key supplier for Indian refiners after a period of reduced trade linked to earlier sanctions.
According to reports, Indian officials have confirmed that energy cooperation discussions include both increased crude imports and broader investment opportunities in Venezuela’s oil and gas sector. Indian state-run and private companies are also expected to explore long-term contracts and expanded participation in upstream and downstream projects.
Trade between the two countries has recently increased, with Venezuela emerging as one of India’s major crude suppliers in recent months. Indian refineries, which are well-suited to process heavy Venezuelan crude, have resumed purchases as regulatory conditions have eased compared to previous years.
Officials from both sides have also discussed widening cooperation beyond energy, including sectors such as mining, critical minerals, pharmaceuticals, and infrastructure, signaling a broader economic partnership alongside oil trade expansion.
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