During a high-level meeting in New Delhi, India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, met with Venezuela’s Acting President, Delcy Rodriguez, to further cement their energy partnership.
The meeting’s main agenda items were enhancing crude oil commerce, deepening bilateral energy cooperation, and attracting more Indian investment to Venezuela’s dynamic oil and gas industry.
During the meeting, Puri stated that Indian companies are ready to increase their presence in Venezuela and that India is supporting the energy sector development in Venezuela.
In its efforts to diversify its energy imports and enhance its long-term energy security, India counts Venezuela among its key partners, according to the Ministry of Petroleum and Natural Gas.
With India’s increasing energy demand, sophisticated refining skills, and technical know-how and Venezuela’s enormous hydrocarbon reserves, the two nations are well-suited to complement one another, as the minister pointed out.
A more active role for Indian companies in Venezuela’s reformed oil and gas sector was warmly welcomed by Acting President Rodriguez.
She extended an invitation to a group of Indian energy experts to come to Venezuela to discuss potential upstream and downstream energy projects for investment and cooperation.
The goal of the talks, according to officials, was to establish a long-term energy relationship that might serve both nations’ interests.
With global energy markets in a state of flux and worries over supply lines connected to the West Asia issue, India is looking to diversify its crude oil sourcing, which is why it has reached out to these parties.
One of India’s most rapidly expanding oil suppliers in recent months has been Venezuela, owner of the world’s largest proven crude oil reserves.
Image: teleSURtv
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