Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, held talks with Acting President of Venezuela, Delcy Eloína Rodríguez Gómez, in New Delhi to explore opportunities for a lasting energy collaboration. India reiterated its backing for Venezuela’s energy reconstruction efforts and expressed readiness for Indian firms to expand their operations in Venezuela. Emphasizing Venezuela’s significance in India’s energy diversification strategy, India expressed interest in boosting energy trade with Venezuela.
Recognizing India as a dependable partner, Venezuela’s Acting President encouraged Indian companies to engage actively in Venezuela’s revamped oil and gas industry. She highlighted the synergies between the two countries in the energy sector and extended an invitation for an Indian delegation to visit Venezuela for exploring avenues of enhanced cooperation. The meeting was attended by senior officials from the Ministry of Petroleum and Natural Gas and chairpersons of various public sector oil companies.
India is looking towards Venezuela as a strategic partner for energy diversification amid geopolitical and supply disruptions affecting crude oil imports from the Gulf region. With Venezuela possessing the world’s largest proven oil reserves, it has been a traditional crude oil supplier to India. India’s advanced refining capabilities uniquely position it to process Venezuela’s heavy crude. Notably, Venezuela emerged as one of the leading crude oil suppliers to India in April and May 2026, with India’s monthly imports from Venezuela witnessing a substantial rise.
