Indian energy firms explore investments in Venezuela’s oil sector following a 51% monthly rise in crude imports, officials say.
Indian energy companies are in talks to expand their presence in Venezuelan oil fields after crude imports from the country surged 51% in a month. The discussions were confirmed by India’s top energy official during a meeting with Venezuela’s interim president in New Delhi.
Venezuela’s government has identified India as a preferred partner for energy investments, according to officials. The move follows easing U.S. sanctions on Venezuelan oil exports, which has opened opportunities for foreign firms.
No immediate market reaction was reported, but analysts suggest the shift could diversify India’s crude supply and strengthen bilateral trade ties.