India and Venezuela deepen energy tiesdeepen energy ties
India and Venezuela discussed closer energy cooperation in New Delhi on June 4, as Prime Minister Narendra Modi met Venezuelan acting President Delcy Rodríguez.
The talks came as Venezuela has become India’s third-largest crude supplier this month, which matters for India’s effort to diversify oil imports.
Indian Perspective
New Delhi sees the talks as part of a broader push to secure steadier and more varied energy supplies. Officials framed Venezuela as a useful partner because its crude can help reduce dependence on a smaller set of suppliers.
Venezuelan Perspective
Caracas presented the engagement as a chance to expand a long-distance commercial relationship with one of the world’s biggest energy consumers. For Venezuela, deeper sales to India offer another route to strengthen export earnings.
- Venezuela’s Orinoco Belt is among the largest heavy-oil regions on Earth.
- India runs one of the world’s biggest state-linked oil refining systems.
- Caracas has long used energy exports as a central tool of foreign policy.
