New Delhi: India and Venezuela have agreed to strengthen cooperation in the energy sector as concerns grow over oil supply disruptions caused by tensions in the Gulf region. Indian officials described the relationship as one of “perfect complementarity,” highlighting Venezuela’s vast oil reserves and India’s rising energy demand.
The development came during a visit by Venezuelan Vice President Delcy Rodríguez to India, where she held talks with Indian Prime Minister Narendra Modi. Discussions focused on expanding collaboration in oil and gas exploration, refining, investment, and broader economic ties.
India, one of the world’s largest crude oil importers, has been seeking to diversify its energy sources amid uncertainty surrounding key Gulf shipping routes, including the Strait of Hormuz. Venezuelan crude has emerged as an important alternative supply source, helping India reduce its dependence on traditional suppliers.
According to Indian officials, Venezuela has become one of India’s major spot-market crude suppliers in recent months. The two countries are also exploring opportunities in mining, infrastructure, and trade as part of efforts to strengthen bilateral relations.
