Indian companies are willing to deepen their presence in Venezuela, Oil Minister Hardeep Singh Puri told Venezuela's interim President Delcy Rodriguez when they met in New Delhi on Thursday.
Rodriguez has invited an Indian energy delegation to visit and explore opportunities in the South American country's energy sector, India's oil ministry said in a statement on Friday.
Puri conveyed the message during talks with Rodriguez in New Delhi, where the two sides discussed expanding cooperation across the oil and gas value chain and building what India described as an enduring energy partnership.
The meeting comes at a time when India is increasingly looking beyond its traditional West Asian suppliers after the ongoing US-Israel-Iran conflict disrupted oil flows through the Strait of Hormuz, a key maritime chokepoint that handles a significant share of global crude shipments.
Indian refiners have raised purchases from Venezuela and other non-Gulf producers to offset supply disruptions and reduce dependence on the region.
The ministry said Venezuela was among India's largest crude suppliers during April and May, reflecting what it described as the country's "strong growth potential" as a long-term energy partner.