New Delhi, February 5: The Indian government has emphasized that ensuring energy security for its citizens is a top priority. Diversifying energy sources is a strategic approach influenced by market conditions and international dynamics.
During a weekly media briefing in New Delhi, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal stated, “As far as India’s energy security and sourcing are concerned, the government has repeatedly stated that ensuring energy security for 1.4 billion Indians is its highest priority. Diversifying energy sourcing according to market conditions and the changing international environment is a key part of our strategy to achieve this. All decisions made by India are aligned with this objective and will continue to be.”
Responding to a question about India’s energy relations with Venezuela, Jaiswal noted that the South American nation has long been a significant partner in crude oil and trade and investment sectors. He emphasized that New Delhi is prepared to assess the commercial viability of any crude oil supply options, including those from Venezuela.
“Regarding Venezuela, it has been our long-standing partner in the energy sector, both in trade and investment. We were importing energy or crude oil from Venezuela until 2019-20, after which we had to halt imports. We resumed purchasing oil from Venezuela in 2023-2024, but had to stop again due to renewed sanctions,” Jaiswal explained.
He added, “As you know, Indian PSUs have established partnerships with Venezuela’s National Oil Company, PDVSA, and our PSUs have been present in the country since 2008. In line with our approach to energy security, India is ready to explore the commercial benefits of suppliers of crude oil, including Venezuela.”
Last week, Prime Minister Narendra Modi received a call from Venezuela’s acting President Delcy Eloína Rodríguez Gómez, during which both leaders discussed deepening the partnership between their countries.
PM Modi mentioned the call on X, stating, “We agreed that with a shared vision to elevate India-Venezuela relations to new heights in the coming years, we will further deepen and broaden our bilateral partnership across all sectors.”
According to the Prime Minister’s Office (PMO), both leaders agreed to enhance and deepen the India-Venezuela partnership in various areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people relations.