\n<\/p>\n
New Delhi Welcomes Venezuela’s Acting President for Energy Talks<\/strong><\/p>\n In a significant move to diversify its oil supplies, Prime Minister Narendra Modi recently met Delcy Rodr\u00edguez, the acting President of Venezuela. Their discussions centered around strengthening the energy partnership between India and Venezuela, a country known for holding the largest proven oil reserves in the world.<\/p>\n Though no agreements were finalized during the meeting, both leaders expressed their commitment to establishing long-term energy contracts. Prime Minister Modi highlighted the \u201cperfect complementarity\u201d between both nations in the energy sector. He also mentioned that the discussions extended beyond energy, covering critical minerals, technology, agriculture, health, and cultural exchanges.<\/p>\n PM Modi remarked, \u201cAs a key partner in Latin America, our collaboration with Venezuela is essential for the Global South. We are dedicated to working together for the benefit of our people.\u201d<\/p>\n After the U.S. effectively took control of Venezuela’s oil industry, India had previously paused its oil imports from the country due to American sanctions. In 2020, India ranked as one of the largest buyers of Venezuelan crude oil.<\/p>\n Ahead of her visit to India, U.S. Secretary of State Marco Rubio indicated that Rodr\u00edguez would be coming to India. Officials shared that the message from Venezuela is clear: they are ready to do business, presenting strong opportunities for India as it seeks to diversify its energy sources amidst ongoing tensions in the Strait of Hormuz.<\/p>\n \u201cVenezuela views India as a reliable market for years to come. Hence, both nations can create a mutually beneficial relationship in the energy sector,\u201d commented Rudrendra Tandon, Secretary of the Ministry of External Affairs. Venezuela has already become India\u2019s third-largest supplier this month for spot purchases.<\/p>\n The two sides also explored broader collaboration in mining, agriculture, critical minerals, and pharmaceuticals. When asked about payment processes for the crude oil, officials mentioned that commercial entities will handle transactions, taking into account current global payment methods.<\/p>\n According to Tandon, oil exporters recognize India’s value as a steady, long-term buyer, making long-term contracts more appealing than spot purchases. He expressed hope for more secure contracts in the future, noting that India’s refining industry is prepared to process Venezuela\u2019s unique crude.<\/p>\n During her five-day visit, Delcy Rodr\u00edguez will tour various facilities in India related to energy, pharmaceuticals, and automotive sectors to understand India\u2019s technological advancements and explore opportunities for cooperation.<\/p>\n\n","protected":false},"excerpt":{"rendered":" New Delhi Welcomes Venezuela’s Acting President for Energy Talks In a significant move to diversify its oil supplies, Prime Minister Narendra Modi recently met Delcy Rodr\u00edguez, the acting President of Venezuela. Their discussions centered around strengthening the energy partnership between India and Venezuela, a country known for holding the largest proven oil reserves in the<\/p>\n","protected":false},"author":1,"featured_media":33715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[28],"tags":[2081,44251,2080,471,44254,2055,2078,44250,44252,2079,44253,44249,44255],"class_list":["post-33714","post","type-post","status-publish","format-standard","has-post-thumbnail","category-india-news","tag-breaking-news","tag-delcy-rodriguez-visit-india","tag-google-news","tag-india","tag-india-energy-diversification","tag-india-news","tag-india-news-today","tag-india-oil-supplies","tag-long-term-energy-contracts","tag-today-news","tag-venezuela-crude-suppliers","tag-venezuela-energy-partnership","tag-venezuela-oil-reserves"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/33714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=33714"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/33714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/33715"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=33714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=33714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=33714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}