PM Modi Discusses Energy and Critical Minerals Expansion with Venezuelan Acting President
Prime Minister Narendra Modi held extensive talks with Venezuela's Acting President Delcy Rodriguez on June 4, 2026, aimed at deepening cooperation in energy and critical minerals. Following the meeting, Petroleum Minister Hardeep Puri announced that a technical team will visit Venezuela to evaluate direct crude oil imports and potential joint venture opportunities, marking a renewed push for energy security.
India is actively looking to diversify its oil supply chain, and Venezuela—home to the world's largest proven oil reserves—is a logical partner. By engaging in direct talks, the government aims to secure long-term crude supplies that suit India's refining capacity while reducing reliance on traditional volatile markets. Beyond oil, the focus on critical minerals is central to India's long-term semiconductor and green transition goals. Deploying a technical team is the necessary first step to determine the operational viability of new supply contracts and infrastructure investment, reflecting a broader effort to strengthen trade ties through South-South cooperation.
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