Delcy Rodriguez: Acting President of Venezuela Delcy Rodriguez reached India on a 5-day visit. india news

Acting President of Venezuela Delsey Rodriguez arrives in India on a 5-day visit

New Delhi: Venezuelan Vice President Delcy Rodriguez arrived in India on Wednesday on a five-day visit to expand energy cooperation, as New Delhi looks to diversify its crude purchases amid supply disruptions from the West Asia crisis.Apart from energy, both sides are also ready to explore ways to enhance cooperation in the areas of trade and investment, pharmaceuticals and technology.Rodriguez is scheduled to hold extensive talks with Prime Minister Narendra Modi on Thursday.External Affairs Ministry spokesperson Randhir Jaiswal said on social media, “Acting President of Venezuela Delsey Rodriguez is warmly welcomed on her arrival in New Delhi.”“This visit will further deepen India-Venezuela relations and add momentum to the bilateral partnership.”Rodriguez took over as acting president of Venezuela after U.S. forces detained then-President Nicolas Maduro in January.India was once a major processor of Venezuelan heavy crude, importing more than 4,00,000 barrels per day at its peak, until US sanctions and rising compliance risks forced purchases to end in 2020.New Delhi started buying crude oil from Venezuela after sanctions were lifted following Maduro’s capture. Indian oil marketing companies have significantly increased supplies of crude oil from Venezuela in the last few weeks due to the crisis in West Asia.The Acting President of Venezuela is accompanied by a number of ministers, including the Ministers of Foreign Affairs, Economy and Finance, Science and Technology, Communications and Information, and Transport.The Venezuelan delegation will visit several sites in the energy, pharmaceuticals and auto sectors to gain insight into India’s technological and industrial capabilities and explore opportunities for collaboration.India and Venezuela have a history of cordial relations. The state visit of former President Hugo Chavez to India in March 2005 gave a major boost to bilateral relations.There is strong cooperation in the energy sector between the two countries.ONGC Videsh Limited (OVL) has a joint venture with Corporación Venezolana del Petroleo (CVP).The joint venture for oil production and exploration in the San Cristóbal area is known as “Petrolerindovenezolana SA”, in which OVL has a 40 percent stake.

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