Why is India-Venezuela oil deal gaining momentum amid Hormuz crisis? Will PM Modi-Delcy Rodriguez meeting turn the energy market? Despite 303 billion barrel reserves, what is changing America’s behavior? Will cheap Venezuelan oil change India’s refinery strategy?
New Delhi: Amidst the chaos in the global energy market, a diplomatic stir has started on Indian soil, which has shocked the markets of the entire world. Venezuela’s acting President Delsey Rodriguez made a surprise visit to India and met Prime Minister Narendra Modi on Wednesday. This meeting has taken place at a sensitive time when India stands at an unprecedented crossroads regarding its energy security. If sources are to be believed, there is going to be a grand agreement between the two countries regarding the supply of crude oil, which can change the equation of global politics.
Scroll to load tweet…
Midnight crisis and India’s new ‘lifeline’
The tension arising in the Strait of Hormuz, considered the backbone of global trade, has created new challenges for energy security before India. Clouds of crisis are looming over the oil supply from Gulf countries. In such a situation, India could not sit idly by. At the same time, the acting President of Venezuela visiting India is not a normal event. Before this visit, Indian Foreign Minister S. Jaishankar also had a secret and long discussion with Rodriguez. Jaishankar clearly said that Rodriguez has a long history of strengthening India-Venezuela relations, and his talks with PM Modi will take the cooperation between the two countries to a new and historic height.
Scroll to load tweet…
The post-coup game: America’s helplessness?
The biggest twist in this entire story is geopolitical turmoil. On January 4 this year, America overthrew the then Venezuelan President Nicolas Maduro, after which Delsey Rodriguez is taking charge of the country as acting President. After the removal of Maduro, America relaxed some restrictions on Venezuelan oil exports, after which Venezuelan oil started reaching India again from April.
The suspense is about the fact that now both America and Venezuela are involved in the race to reach such an agreement with India so that oil exports can increase more rapidly. Is America using some new trick of its own behind this deal, or is this a complete diplomatic victory for India?
Venezuela reached number 3 by defeating Saudi and America
The latest data from global energy tracking agency ‘Kepler’ has created an earthquake in the oil market. According to the May 2026 report, Venezuela has left the world’s biggest players – Saudi Arabia and the US itself – far behind in terms of oil supply. At present, Venezuela has come at third place in terms of supplying oil to India, and only Russia and UAE are left ahead of it.
Scroll to load tweet…
Statistics are testifying that this month the oil received by India from Venezuela has increased by about 50 percent as compared to April. According to Kepler data, the current position of India’s top suppliers is as follows:
| supplier country | Oil Supply (per day) |
| Russia | 23 lakh barrels |
| UAE | 4.40 lakh barrels |
| Venezuela | 4.17 lakh barrels |
| saudi arabia | 3.40 lakh barrels |
| America | 3.10 lakh barrels |
The treasure of 303 billion barrels and the magic of Indian refineries
Venezuela has about 303 billion barrels of crude oil reserves, making it the world’s largest oil treasure. This reserve is more than that of Saudi Arabia, but there is a big challenge with this oil – it is very heavy and high sulfur, which is not within everyone’s reach to refine. This is where India’s real masterstroke comes into play. India’s very modern and advanced refineries easily convert even this ‘difficult’ oil into valuable products like diesel and jet fuel. Since this oil is comparatively very cheap in the market, it is proving to be a bumper profit deal and not a loss one for Indian refineries.
Confirming this strategy, External Affairs Ministry spokesperson Randhir Jaiswal said that Venezuela is a very important energy partner of India and Indian state oil companies have made huge investments there. Now India is exploring new ways to further increase its stake and investment in Venezuela’s oil sector.
Scroll to load tweet…
Sixth journey and a new chapter in India’s energy strategy
This India tour of Rodriguez is not his first attempt. She had earlier also come to India in February 2025 to participate in ‘India Energy Week’, when she was the Vice President and Oil Minister. But this time she has come as the acting President of the country, which tells about the seriousness of this visit and the big intentions hidden behind it. This visit of Delsey Rodriguez is being considered not just a diplomatic meeting, but a signal that will decide the direction of energy geopolitics in the coming years.