India and Venezuela have reaffirmed their commitment to deepening bilateral energy cooperation as Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held talks with Venezuela’s Acting President Delcy Eloína Rodríguez Gómez in New Delhi on June 4, 2026. The meeting was attended by senior officials from the Ministry of Petroleum and Natural Gas and heads of major public sector oil companies.
During the discussions, both sides explored opportunities to build a long-term and resilient energy partnership. Minister Puri emphasized the longstanding friendship between India and Venezuela and reiterated India’s support for Venezuela’s energy sector revival. He stated that Indian companies are prepared to expand their presence in Venezuela and contribute to the country’s oil and gas industry. Venezuela remains an important pillar of India’s energy diversification strategy, especially at a time when global energy markets are facing geopolitical uncertainties and supply disruptions.
Acting President Rodríguez described India as a reliable and trusted partner and encouraged Indian companies to participate in Venezuela’s reformed oil and gas sector. She also invited an Indian delegation to visit Venezuela to explore new investment and collaboration opportunities.
Venezuela, which possesses the world’s largest proven oil reserves, has emerged as one of India’s key crude oil suppliers in recent months. India’s advanced refining infrastructure is well suited to process Venezuela’s heavy crude, making the partnership strategically important. As India seeks to diversify its sources of crude imports, Venezuela is playing an increasingly significant role in strengthening the country’s energy security.
Indian public sector companies have maintained a presence in Venezuela’s upstream oil sector since 2008. India has invested nearly USD 1 billion in projects such as San Cristóbal and Petrocarabobo-1 in the Orinoco Belt, reflecting its long-term commitment to the South American nation’s energy sector.
