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National News

The Times of India News

National / The Times of India

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US hold on oil may help India recover $1 billion dues

A potential US-led restructuring of Venezuela's oil sector could significantly benefit India, offering a chance to recover nearly $1 billion in outstanding dues. This shift might also enable ONGC Videsh to revive crude production from its jointly operated San Cristobal oilfield, which has been hampered by US sanctions blocking essential technology and equipment.

5 Jan 2026 4:18 am