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National News

The Times of India

National / The Times of India

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ONGC gets US licence to expand Venezuela operations, boost oil output

ONGC has successfully obtained approval from the US Treasury, allowing it to further extend its oil operations in Venezuela. The newly acquired license significantly reduces sanctions-related barriers, paving the way for increased investments and production capabilities. With this development, ONGC can explore new contracts and possibly take over projects from PDVSA.

17 Aug 2026 8:47 pm