Venezuela is an OIL RICH communist country and plays politics with the Middle East. Its leader is a maverick. Don't trust this guy. He will give you rights and then nationalise it later. India has to make sure that it gets IMMEDIATE RETURNS on whatever it invests.
If India wants to participate in the proposed Venezuela's Oil offer then it must make sure that the country keeps up to its promises because it may end up same as in the case of Nigeria that has gone back from its promises to Indian oil companies from doing business there under the chinese influances over there that can be repeated by china by its mighty pocket power as against of india's. PS- China is giving a cash credit of $50bilion US dollars to Nigeria that caused its government to finally stop indian oil companies to pull out and so doing oil business there. This is the truth which india should tell to its populace and business community without any untruths at all.
