New Delhi, Feb 5 (ANI) — India said Thursday it remains willing to consider sourcing crude oil from Venezuela and other suppliers if commercially viable, the Ministry of External Affairs (MEA) said, as global energy trade shifts amid supply uncertainties.
MEA spokesperson Randhir Jaiwal, speaking at a media briefing, outlined India’s pragmatic, market-driven approach to energy security. He noted India has had a long-running energy relationship with Venezuela on both trade and investment fronts.
Jaiwal recalled that India imported Venezuelan crude until 2019–20, after which purchases stopped. According to the MEA, imports resumed in 2023–24 but were later discontinued when sanctions were reimposed.
He also highlighted the presence of Indian public-sector undertakings in Venezuela, saying Indian firms have worked with the country’s national oil company, PDVSA, and maintained a presence there since about 2008.
Emphasising commercial considerations, Jaiwal said New Delhi will continue to evaluate crude supply options from multiple geographies and remain open to Venezuelan supplies if they meet economic and commercial criteria. His comments come against a backdrop of changing patterns in global oil flows and announcements by other countries about adjustments to their own supply sources.
(Report sourced from ANI.)
