Can Venezuelan oil save India amid the Hormuz energy crisis?
Venezuelan oil is becoming increasingly important for India as the country seeks alternative energy sources amid the Hormuz energy crisis. Venezuelan Acting President Delcy Rodriguez is set to visit India to discuss oil sales, with shipments to India rising significantly. The U.S. is also keen to reintroduce Venezuelan crude to the global market, reshaping energy supply chains in the process.
- ▪Venezuela has become India's third-largest crude oil supplier this month, with shipments nearly 50 percent higher than in April.
- ▪The U.S. is pushing for Venezuelan oil to be sold globally, following the abduction of former President Nicolas Maduro.
- ▪India's crude oil imports from Gulf producers have been disrupted due to the ongoing conflict around Iran and the closure of the Strait of Hormuz.
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EXPLAINERNews|Oil and GasCan Venezuelan oil save India amid the Hormuz energy crisis?Venezuelan Acting President Delcy Rodriguez is expected to travel to India next week to discuss oil sales.ListenListen (8 mins)SaveClick here to share on social mediashare-nodesSharefacebookxwhatsapp-strokecopylinkgoogleAdd Al Jazeera on GoogleinfoDrilling rigs are seen at an oil well operated by Venezuela's state oil company PDVSA, at the oil rich Orinoco belt, near Morichal at the state of Monagas on April 16, 2015 [File: Carlos Garcia Rawlins/Reuters]By Caolán MageePublished On 22 May 202622 May 2026Venezuela has emerged as India’s third-largest crude oil supplier this month, as the war on Iran and the closure of the Strait of Hormuz force countries to scramble for alternative energy sources.Shipments…
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