Delcy Rodriguez is expected to travel to India next week to discuss oil sales. Venezuela has become India’s third-largest crude supplier, with shipments nearly 50% higher than in April, based on energy tracking data. Venezuela holds the world’s largest oil reserves, estimated at 303 billion barrels, but sanctions and mismanagement have reduced production. As conflict in the Middle East tightens oil markets, the United States is seeking to bring Venezuelan crude back to global supply. India has increased purchases of Russian oil during the energy crisis linked to the US-Israel war on Iran, drawing US criticism. US Secretary of State Marco Rubio plans to visit India to press energy security and trade cooperation, saying Washington wants to sell as much energy as India will buy and sees opportunities with Venezuelan oil.
"Venezuelan Acting President Delcy Rodriguez is expected to travel to India next week to discuss oil sales, United States Secretary of State Marco Rubio said. At an estimated 303 billion barrels of oil — about 17 percent of known global oil resources — the South American nation holds the world's largest reserves, larger even than those held by Saudi Arabia and the US, though years of US sanctions and government mismanagement had crippled production in Venezuela."
"Venezuela 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 from Venezuela to India are nearly 50 percent higher than they were in April, according to energy tracking data."
"India has been buying more Russian oil amid the global energy crisis triggered by the US-Israel war on Iran, much to the irritation of the US, which argues that revenues are supporting Russia's war on Ukraine. Before the Iran war began, Indian Prime Minister Narendra Modi had promised to stop buying Russian oil and instead buy crude from the US and Venezuela in February."
"Rubio, who will travel to India from May 23 to 26 for talks on trade, defence cooperation and energy security, says Washington wants to make sure India does this. We want to sell them as much energy as they'll buy, Rubio said. We also think there's opportunities with Venezuelan oil. In fact, it's my understanding that the interim president of Venezuela will be travelling to India next week as well."
Read at www.aljazeera.com
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