Relationship dossier
India
Venezuela
Relationship assessment
Hydrocarbon cooperation anchors India–Venezuela ties, alongside diplomatic engagement and constraints on trade and investment.
India toward Venezuela
+30India has pursued energy cooperation with Venezuela through ONGC Videsh’s investment in the San Cristóbal oil project and Indian purchases of Venezuelan crude. These ties have been affected by sanctions and Venezuela’s economic difficulties.
Venezuela toward India
+30Venezuela has supplied crude oil to India and cooperated with Indian state-owned energy interests in the San Cristóbal project. The scale and continuity of these ties have been constrained by sanctions and economic conditions.
Overall relationship
+25The relationship has a durable energy-cooperation component, including Indian investment in Venezuelan oil production and Venezuelan crude exports to India. Political engagement adds to this relationship, while sanctions and economic disruption have limited the continuity and scope of cooperation.
How to read these scores
Scores are rough judgments, not objective measurements or current verification. Directional scores describe government policy and conduct, not public opinion. The overall score is an independent estimate, never an average.
- −100
- Extreme sustained hostility
- −50
- Substantially adversarial
- 0
- Mixed or neutral, supported by knowledge
- +50
- Substantially cooperative
- +100
- Exceptionally close sustained partnership
“Not assessed” means there is no recorded score. Pair existence makes no claim about diplomatic recognition or established relations.
Relationship context
Overview
India and Venezuela have developed substantive cooperation centered on hydrocarbons, including Indian state-owned energy company ONGC Videsh’s investment in Venezuela’s San Cristóbal oil project and Venezuelan crude supplies to India. Political engagement has continued, but the relationship has faced constraints from Venezuela’s economic crisis and U.S. sanctions, which disrupted oil trade and investment.
Key developments
ONGC Videsh acquired an interest in Venezuela’s San Cristóbal oil project, establishing a substantial bilateral energy arrangement.
Venezuelan crude became an important component of India’s oil imports, alongside cooperation involving Indian state-owned energy companies.
Major uncertainties
- The current scope and implementation of energy cooperation are unclear.
- The extent of bilateral cooperation beyond energy and diplomatic engagement is uncertain.
- The effects of sanctions and changes in oil trade on the relationship remain unclear.