New Delhi: India is preparing to send a technical delegation to Venezuela to explore new opportunities in the energy sector, signaling a renewed push to strengthen bilateral cooperation between the two nations. The announcement came after Union Petroleum and Natural Gas Minister Hardeep Singh Puri held talks with Venezuelan Vice President and Acting President Delcy Rodríguez during her visit to New Delhi.
India-Venezuela Energy Ties Gain Momentum
The meeting focused on expanding cooperation in the oil and gas sector, with both sides discussing ways to enhance energy trade, investments, and long-term collaboration. Venezuela, home to the world’s largest proven crude oil reserves, has increasingly emerged as an important energy partner for India.
Minister Puri highlighted that India and Venezuela share complementary strengths. While Venezuela possesses vast hydrocarbon resources, India offers refining expertise, technological capabilities, and one of the world’s fastest-growing energy markets.
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
Technical Team to Assess Opportunities
As part of the next phase of engagement, India will soon dispatch a technical team to Venezuela. The delegation is expected to evaluate potential opportunities across the country’s energy sector, including upstream exploration, production, refining, and infrastructure development.
The visit is aimed at identifying areas where Indian public and private sector companies can expand their participation and contribute to the development of Venezuela’s energy industry.
Scope for Greater Investment
Indian energy companies already have a presence in Venezuela through investments in oil and gas projects. During the discussions, both countries expressed interest in deepening these partnerships and exploring new avenues for cooperation.
Officials discussed possibilities for greater collaboration in crude oil production, refining, petrochemicals, and related energy infrastructure. Venezuela also invited Indian companies to explore additional investment opportunities in its resource-rich economy.
Energy Security Remains a Key Priority
The initiative comes as India continues to diversify its sources of crude oil imports to strengthen energy security. Venezuela has become an increasingly significant supplier of crude oil to India in recent months, helping New Delhi reduce dependence on traditional suppliers and mitigate geopolitical supply risks.
Energy cooperation with Venezuela aligns with India’s broader strategy of securing reliable and affordable energy supplies to support its growing economy and rising energy demand.
Beyond Oil: Expanding Economic Cooperation
Apart from energy, discussions between Indian and Venezuelan leaders also covered cooperation in mining, critical minerals, pharmaceuticals, technology, and trade. Both sides emphasized the importance of building a comprehensive strategic partnership that extends beyond the petroleum sector.
Prime Minister Narendra Modi also met Delcy Rodríguez during her visit, reaffirming India’s commitment to strengthening ties with Venezuela across multiple sectors of mutual interest.
Looking Ahead
The upcoming visit of the Indian technical team is expected to pave the way for new investments, joint ventures, and long-term energy partnerships. As both countries seek to deepen economic engagement, the initiative could open fresh opportunities for cooperation while contributing to India’s energy security goals and Venezuela’s efforts to revitalize its energy sector.
