ONGC Eyes Venezuela Oil Push Post US Sanctions

Moneycontrol.com · business

State-run ONGC plans to increase its operations in Venezuela after securing a licence from the US Treasury. This clearance allows the company to potentially take over projects previously managed by PDVSA. The move signifies a strategic expansion for ONGC in the South American nation's oil sector, aiming to leverage new opportunities following eased US sanctions. This development could boost India's energy import diversification efforts.