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How Reliance Industries and ONGC may benefit from US takeover of Venezuelan oil

Jefferies sees Reliance Industries and ONGC as key Indian beneficiaries of a potential US-led restructuring of Venezuelas oil sector. While Venezuela holds vast reserves, its low current output limits any near-term impact on crude prices. Over the medium term, higher investment and production could reshape supply dynamics, with implications for margins, cash flows and valuations.

5 Jan 2026 8:45 am