Venezuela Sends 2-Million-Barrel Oil Cargoes to India as Exports Surge

Venezuela has begun shipping significantly larger volumes of crude oil to India, signalling a major shift in global energy trade flows. Very Large Crude Carriers (VLCCs) capable of transporting up to 2 million barrels of oil are now being deployed to deliver Venezuelan crude to Indian refiners, reflecting renewed confidence in the country’s oil export capacity.

The move follows easing sanctions and supply arrangements that have allowed Venezuela to expand exports. Trading firms have chartered supertankers for shipments from the José terminal operated by state oil company PDVSA. These vessels can transport far more oil than smaller tankers, reducing freight costs and speeding up deliveries.

Industry sources indicate that at least three VLCCs — including Nissos Kea, Nissos Kythnos and Arzanah — are scheduled for loading and are destined for Indian ports. Another supertanker is also expected to join the route, highlighting the growing scale of shipments.

Logistics Upgrade and Cost Efficiency

VLCCs carry nearly double the cargo of Suezmax tankers and several times that of Aframax vessels. Their deployment is expected to cut shipping costs and accelerate deliveries, enabling faster movement of crude stored in Venezuela.

The larger shipments could also help clear millions of barrels currently held in storage, improving cash flow for Venezuela’s oil sector.

India Re-emerges as Key Buyer

For Indian refiners, the renewed supply arrives at a strategic moment. India was once among the largest buyers of Venezuelan crude before sanctions disrupted trade. Now, refiners are returning to Venezuelan heavy crude as part of efforts to diversify supply sources and reduce reliance on Russian oil.

Major Indian refiners and trading firms have recently secured shipments, including large cargo purchases and blended deliveries to reduce transport costs. Venezuelan heavy crude, particularly the Merey grade, remains attractive due to its discounted pricing and suitability for complex refineries.

Recent deals include purchases by private and state-run refiners, while companies such as Reliance Industries have resumed buying Venezuelan crude following regulatory approvals.

Exports Rising After Sanctions Relief

Venezuela’s oil exports have rebounded sharply, reaching roughly 800,000 barrels per day in January after restrictions were eased. The surge has created excess supply, making India an important destination for absorbing additional volumes.

Energy analysts note that larger cargo shipments improve transport economics and may help stabilise supply chains while supporting India’s energy security strategy.

As global crude flows adjust amid geopolitical shifts, Venezuela’s return to large-scale exports and India’s renewed imports highlight evolving energy partnerships and the strategic importance of diversified oil sourcing.