India Deepens Venezuelan Oil Ties as Imports Nearly Double, Seeks Field Expansion

Indian energy companies are interested in expanding into Venezuelan oil fields, New Delhi’s top energy official Hardeep Singh Puri said on June 5, 2026, at a meeting with Venezuela’s interim president Delcy Rodriguez in India. The meeting took place as India imported 427,000 barrels per day of Venezuelan crude in May 2026, nearly double the 283,000 barrels daily recorded in April.

Venezuela has become India’s fourth-largest oil supplier, and India ranks as the second-largest buyer of Venezuelan crude after the United States.

7 percent from April and 61 percent higher than May 2025, according to ship-tracking and vessel-loading data. 5 million barrels daily by next year. ” The same official added, “We want to reciprocate that.

Venezuela has traditionally been a close friend. ” Indian officials stated that Venezuela’s government sees India as a preferred partner in energy matters. The United States eased sanctions on Venezuelan oil in February 2026.

India depends on foreign oil to meet as much as 85 percent of its domestic demand. The country has increased purchases from Russia, Brazil, Venezuela, Nigeria, and Angola to replace lost Middle Eastern barrels amid the continuing blockade of the Strait of Hormuz.