Perspective: India, Venezuela Deepen Energy Ties | 05 June, 2026

Amid geopolitical uncertainties and global energy supply disruptions, India and Venezuela are looking to expand and strengthen their bilateral energy cooperation. During bilateral talks between Prime Minister Narendra Modi and Acting President of Venezuela, Ms. Delcy Rodríguez, both leaders discussed opportunities for building an enduring energy partnership between the two countries. Venezuela is home to the world's largest proven oil reserves (it has about 17% of the world’s oil reserve), and is a traditional supplier of crude oil to India, which remains a major consumer of crude oil. In May this year, Venezuela emerged as India’s third-largest crude-oil supplier. Our average monthly imports from Venezuela increased from 64.027 TMT during FY 2025-26 to 1,047.148 TMT April-May of FY 2026-27. It’s because of this strong natural complementarity that both sides are now working towards developing a more structured energy partnership covering both upstream and downstream sectors. Beyond energy, both countries are also exploring opportunities in the areas of mining, critical minerals, pharmaceuticals, automobiles, agriculture, and related industries. This was the first working visit of the Acting President of Venezuela Ms. Delcy Rodríguez to India. She was accompanied by a high-level delegation including ministers from foreign affairs, finance, science and technology, communication and transport. In addition to PM Modi, she held talks with External Affairs Minister Dr. S. Jaishankar and petroleum Minister Hardeep Singh Puri. In Perspective today, we’re going to talk about the significance of India-Venezuela partnership, especially in context of India’s energy security… and how can this relationship evolve beyond oil into a broader strategic and economic engagement. Guests: 1. Harsh V. Pant, Vice President, Studies and Foreign Policy, ORF 2. Amrit Lugun, Former Ambassador Anchor: Teena Jha Producer: Sagheer Ahmad Guest Coordinator: Deepti Vashisht, Vinod Kumar Singh, Paras Kandpal Watch the other videos on our playlist:    • Perspective   Sansad Television is the Parliamentary channel of India. It was created in 2021 by merging Lok Sabha Television and Rajya Sabha Television. Follow us on: -X: https://x.com/sansad_tv -Insta:   / sansad.tv   -FB:   / sansadtelevision   -WhatsApp: https://whatsapp.com/channel/0029VanO... -linkedin:  / published   Visit Sansad TV website: https://sansadtv.nic.in/