Venezuelan oil helping India navigate Hormuz energy crisis

(Al Jazeera Media Network) 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.

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.

As conflict engulfs the Middle East and oil markets tighten, Washington, which took control of Venezuela’s oil industry following the abduction of former President Nicolas Maduro from Caracas by US forces in January, now appears eager to push Venezuelan crude back onto the global market.

India has been buying more Russian oil amid the global energy crisis triggered by the US-Israel war on Iran. 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.

Now, 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.”

Analysts say Washington is attempting to reshape global energy supply chains – reducing Iran’s leverage in any peace talks – while simultaneously tightening its grip over Venezuela’s oil sector.

https://www.aljazeera.com/news/2026/5/22/can-venezuelan-oil-save-india-amid-the-hormuz-energy-crisis