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The Economic Times

Economy / The Economic Times

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ONGC gets US licence to resume full Venezuela operations, eyes operatorship

ONGC has received a US Treasury license to resume full operations in Venezuela. This approval removes sanctions-related risks, allowing expanded production and new agreements. ONGC Videsh holds stakes in San Cristobal and Carabobo oil projects. The company expects to recover pending dividends and potentially take operatorship. India seeks to diversify oil resources amid heightened geopolitical risks.

16 Aug 2026 11:08 am