Venezuela is making a substantial move to supply oil to India, with tankers capable of carrying up to 2 million barrels of crude oil heading towards Indian shores. This shift in the flow of trade marks a significant change following the recent Caracas-Washington supply deal, which has revitalized Venezuela's oil exports. According to a report from Reuters, oil trading houses in Venezuela have chartered very large crude carriers (VLCCs) for exporting crude to India, showing increased delivery assurance to the country.

The adoption of VLCCs, which can carry approximately double the volume of Suezmax tankers and four times that of Aframax vessels, not only reduces shipping costs but also accelerates shipment times. This indicates a renewed confidence in Venezuela's oil export capabilities as it re-enters the global oil market. Major global shipping companies are now willing to transport Venezuelan oil, reflecting an optimistic outlook for the revival of the country’s oil sector.

Three VLCCs, namely Nisos Kea, Nisos Kithnos, and Arzana, have been allocated loading slots at the Jose terminal of the state oil company PDVSA for a March shipment, indicating that these vessels have already been designated for India-bound oil transport. Additionally, another supertanker named Olimpo is also on the way, further bolstering the volume of Venezuelan crude heading to India. This not only reshapes Venezuela's oil export landscape but also highlights the strengthening ties between Venezuela and India in energy trade.