NEW DELHI: Amid India's efforts to diversify its oil supplies, Venezuela's acting President, Delcy Rodriguez, is likely to visit New Delhi this week, according to official sources. Rodriguez was earlier supposed to visit India for the International Big Cat Alliance meeting, but the event was deferred.
US Encourages India to Buy Venezuelan Oil
While talking about the US initiative to sell more energy to India, Secretary of State Marco Rubio said last week Rodriguez would soon be visiting India. Washington, which has oversight over Venezuelan oil, has been encouraging India to buy more from the South American country.
India's Openness to Venezuelan Crude
The Indian government indicated in February it is open to exploring the possibility of purchasing more crude from Venezuela. “We have a long-standing energy partnership with them, and we remain open to exploring options of availability of crude oil from Venezuela and other places, depending on its viability,” said MEA spokesperson Randhir Jaiswal. Last month, Venezuela became India's third-largest crude supplier as refiners increased purchases of cheaper crude amid the West Asia conflict.
This potential visit marks a significant step in strengthening energy ties between the two nations, as India seeks to reduce its dependence on traditional suppliers. The diversification strategy aligns with India's goal of ensuring stable and affordable energy supplies for its growing economy.
