Venezuela’s Acting President Delcy Rodríguez has formally invited Indian companies to actively participate in her country’s reformed oil and gas sector, as India and Venezuela moved to deepen their energy partnership amid shifting global supply chains.
The invitation came during a high-level meeting in New Delhi on Thursday, when Union Minister for Petroleum and Natural Gas Hardeep Singh Puri called on Rodríguez, who is currently on a visit to India.
Called on the Acting President of Bolivarian Republic of Venezuela HE @delcyrodriguezv today with the leadership of @PetroleumMin and CMDs of India’s energy sector PSUs.
India has a long standing energy partnership with Venezuela since 2008 and shares unique complimentarities… pic.twitter.com/NGtA7767tS
— Hardeep Singh Puri (@HardeepSPuri) June 4, 2026
A Natural Partnership
Puri, accompanied by senior officials from the Ministry of Petroleum and Chairpersons of various Public Sector Oil companies, reaffirmed India’s strong support for Venezuela’s energy reconstruction during the talks.
He noted that the two countries share a natural partnership rooted in long-standing friendship, and conveyed India’s keenness to deepen energy trade. He added that Indian companies are ready to expand their presence in Venezuela’s energy sector.
Rodríguez, in turn, acknowledged India as a reliable partner and highlighted the complementarities between the two nations in the energy sector. She invited an Indian delegation to visit Venezuela to explore opportunities for enhanced collaboration in the country’s reformed oil and gas industry.
ALSO READ: Venezuela’s Delcy Rodrguez Meets Modi, Reaffirms Commitment To Deepen Bilateral Partnership
Strategic Diversification
The meeting carries significant strategic weight for India.
Venezuela holds the world’s largest proven oil reserves, and India’s sophisticated refining infrastructure is particularly well-suited to process Venezuela’s heavy crude, a technical advantage that gives the bilateral relationship a natural commercial logic.
Trade Surge
Venezuela ranked among India’s largest crude oil suppliers in April and May 2026.
India’s average monthly imports from Venezuela surged dramatically — from 64.027 TMT during FY 2025-26 to 1,047.148 TMT in April–May of FY 2026-27 — underlining the scale of the opportunity both sides are looking to formalise.
Indian public sector companies have maintained a presence in Venezuela’s upstream sector since 2008, with total investment of approximately USD 1 billion in the San Cristóbal and Petrocarabobo-1 projects in the Orinoco Belt, demonstrating a long-term commitment that both governments now appear keen to build upon.
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