India–Venezuela relations
{'<entity_0>': 'Venezuela', '<entity_1>': 'India–Venezuela relations', '<entity_2>': 'India'}
[['India–Venezuela relations', 'country', 'India'], ['India–Venezuela relations', 'country', 'Venezuela']]
<entity_1> refers to the international relations that exist between the <entity_2> and the <entity_0>. Diplomatic relations between <entity_2> and <entity_0> were established on 1 October 1959. <entity_2> maintains an embassy in Caracas, while <entity_0> maintains an embassy in New Delhi. The Election Commission of <entity_2> (ECI) and the National Electoral Council (CNE) of <entity_0> signed an MoU during a visit by Indian Election Commissioner V S Sampath to Caracas in 2012. <entity_2> surpassed China as the largest Asian importer of crude oil from <entity_0> in 2012. <entity_0> is <entity_2>'s fourth largest source of crude oil after Iraq, Saudi Arabia, and Iran accounting for 12% of the country's oil imports in April–November 2018. The rise in US domestic oil production resulted in a 49% reduction of American oil imports from <entity_0> in 2014, creating an opportunity for <entity_2> to increase crude oil imports from <entity_0>. Bilateral trade between <entity_2> and <entity_0> totalled US$5.83 billion in 2015–16. In 2015–16, crude oil exports from <entity_0> to <entity_2> stood at $5.68 billion, while non-oil exports from <entity_0> accounted for just $23.18 million. Apart from crude oil, the other major commodities <entity_2> imports from <entity_0> are iron pellets and electrical cables. <entity_2>'s total exports to <entity_0> in 2015–16 totaled $130.66 million, declining from $258.07 million the previous fiscal. The main commodities exported by <entity_2> to <entity_0> are pharmaceuticals, chemicals, textiles, calcined petroleum coke (CPC), engineering products such as scooters, equipment and machinery. According to Rejaul Karim Laskar, a scholar of <entity_2>'a foreign policy, the most important aspect of <entity_1> relates to hydrocarbons. <entity_0> has world's largest reserve of crude oil, while <entity_2> is world's third largest importer of crude oil. During President Chávez's visit to <entity_2> in March 2005, the two countries signed a bilateral agreement on co-operation in the hydrocarbon sector and an MoU granting ONGC Videsh Ltd (OVL) rights for oil and gas exploration in <entity_0>. <entity_2> and <entity_0> signed an agreement to double production at the San Cristóbal oil field in November 2016.
['bilateral relation']