Venezuela's acting president visits world's largest oil refinery in India

Venezuela's acting president, Delcy Rodríguez, visited the Jamnagar refinery in Gujarat, India, described as the world's largest oil refining complex. Accompanied by high-ranking government officials, including Foreign Minister Yván Gil and Minister of Science and Technology Isabel Iturria, Rodríguez's visit is part of Venezuela's efforts to forge oil partnerships with New Delhi.

The petrochemical complex is owned by Reliance Industries Limited, India's largest private conglomerate. This visit signals a potential avenue for Caracas to place massive volumes of its heavy crude oil onto the market. Rodríguez's tour follows high-level meetings in New Delhi with Indian Prime Minister Narendra Modi, External Affairs Minister S. Jaishankar, and Minister of Petroleum and Natural Gas Hardeep Singh Puri.

India has confirmed that Venezuelan crude is now its third-largest supplier in spot purchases, with total shipments reaching nearly 320,000 barrels per day in May. This comes at a critical time for India, which faces supply challenges due to blockades in the Strait of Hormuz.

The Jamnagar facility, owned by Indian magnate Mukesh Ambani, processes between 1.2 and 1.4 million barrels of crude oil daily, approximately 1.5% of global crude output. Its advanced technology is specifically designed to distill heavy and extra-heavy crudes, such as Venezuela's Merey crude from the Orinoco Belt, which holds the planet's largest proven reserves of this type. During her meeting with the Minister of Petroleum, Rodríguez extended an invitation to Indian corporations to expand their presence in Venezuela's hydrocarbon sector, with both nations reaffirming mutual interest in long-term association.