I thought Venezuela lacked oil at this time? The east indies are awesome, but you probably WILL get into confrontation with GBR if you go for them.
This is a strategy that I use every game for africa now, and it works out well
1 take egypt (cotton, rubber)
2 take nigeria (Cotton, Coal More rubber, More POPs)
3 take tanzania and ride it down to namibia (strategic benefit and even more pops)
you will notice that this is very similar to the british colonization system. I use this and do not go farther, because taking all of africa just isnt fun. I generally skip the congo, as by now I have all the rubber/ tropical wood i'll ever need
BTW for oil, get persia after she westernizes. Although the russians will intervene, and it will e costly in imfamy, it s fine because
A. Everyone knows russian troops are dirt garbage
B. Your Pops usually flood the taken states, usually doubling the population in a year or two.