New Delhi, Jan. 5 -- Energy policy expert Narendra Taneja said that while Venezuela holds the world's largest oil reserves, it remains a minor supplier in the global oil market.

He also noted that recent developments may not have an immediate impact on oil prices and could create opportunities for Indian oil companies if sanctions are lifted.

His remarks come after Washington carried out a "large-scale strike against Venezuela", and Nicolas Maduro and his wife, Cilia Flores, were captured and flown out of the country.

Speaking to ANI, Taneja on Sunday said, "Our oil companies know Venezuela very well. We have been dealing with Venezuela for a long time. Most refineries in the world can't handle Venezuelan oil because it's heavy oil. I ...