The Daily Journal — India formalized its strategy to deepen energy ties with Venezuela after the official meeting between Prime Minister Narendra Modi and Acting President Delcy Rodríguez. Indian authorities described the relationship between the two countries as strategic, driven by the urgent need to secure energy supplies.
During a special press briefing, Shri Rudrendra Tandon, Secretary in charge of Latin America at India’s Ministry of External Affairs, outlined the foundations of this rapprochement.
“Venezuela holds one of the world’s largest oil reserves. India represents a large and growing consumer of oil and will see steady demand growth for many years. Therefore, we see a perfect complementarity in the energy sector,” the diplomat said.
Tandon highlighted the immediate importance of Venezuelan crude in the Asian market. “In fact, in our spot purchases, Venezuela has already emerged as the third-largest supplier this month. So naturally, today’s discussions focused on building an energy alliance.”
On Thursday, Rodríguez also met with India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri.
Beyond Trade: Investments Across the Oil Value Chain
When asked about the condition of Venezuela’s infrastructure and whether India might support reconstruction efforts, Tandon said New Delhi’s ambitions go beyond simple trade.
“The discussions on the energy sector covered a wide scope. The alliance did not focus only on a buyer-seller relationship. It addressed participation by Indian companies in exploration and production activities (upstream) and in processing and marketing operations (downstream) across all segments,” he explained.
He added that technical details would depend on the private sector. “We expressed readiness, our companies also expressed readiness, and we will take steps as a government to facilitate this. Ultimately, however, Indian energy companies will make the commercial decisions.”
No Issues Refining Heavy Venezuelan Crude
Responding to concerns about India’s ability to process heavy Venezuelan oil, the foreign ministry highlighted the flexibility of its refining system.
“India’s refining industry has become so sophisticated that our refineries no longer depend on a specific type of crude oil. In practice, we can purchase oil from anywhere in the world, process it, and generate profits. We have absolutely no problem with that,” Tandon said.
Diversifying Sources and the Geopolitical Factor
International media asked whether increased purchases from Caracas could affect imports from Russia or be a response to U.S. policy pressure. Tandon defended India’s position by pointing to current geopolitical tensions.
“The Government of India will buy oil from wherever it can. The conflicts in the Middle East have led all governments, including India’s, to pursue diversification of supply sources aggressively. We will continue doing that,” he stated.
He also dismissed external restrictions on payment mechanisms. “Payments will take place in whatever way companies choose,” he said.
Toward Long-Term Contracts
Although the summit did not yield immediate corporate agreements, India outlined a long-term vision to stabilize domestic energy prices.
“The clear message from President Rodríguez is that Venezuela views India as a preferred partner,” Tandon said.
He concluded by describing India’s medium-term goal of becoming a stable buyer amid global price volatility. “Oil sellers recognize this because, when they sign contracts with India, they know that regardless of international market fluctuations, they will have a stable buyer. Therefore, we expect to move toward secure long-term supplies with all our providers.”
