Venezuelan President Hugo Chavez says his country plans to sign a long-term oil agreement with India, Asia's third-biggest oil consumer.
Mr. Chavez told reporters during a visit to India that his OPEC-member country, and the world's fifth-largest crude exporter, plans to strike the deal with India during his four-day visit. India imports 70 percent of its crude needs.
During his visit, Mr. Chavez also said Venezuela would consider cutting off its oil supply to the United States if the U.S. government displays "any aggression" against Venezuela.
Venezuela is one of the largest suppliers of oil to the United States, but relations between the two countries have been tense since the left-leaning Mr. Chavez took office in 1999. Mr. Chavez has accused the Bush administration of trying to remove him from office.
Some information for this report provided by AFP andReueters.