ONGC Gets US Licence to Resume Full Venezuela Operations, Eyes Operatorship

ONGC Gets US Nod to Step Up Venezuela Operations, Looks to Take Control of Oil Projects

Get latest articles and stories on Business at LatestLY. State-run Oil and Natural Gas Corporation (ONGC) is set to step up its activities in Venezuela after receiving a licence from the US Treasury's Office of Foreign Assets Control (OFAC), removing the sanctions-related restrictions that had limited the company's operations in the country. Business News | ONGC Gets US Nod to Step Up Venezuela Operations, Looks to Take Control of Oil Projects.

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

India Business News: State-run Oil and Natural Gas Corporation (ONGC) is set to expand its presence in Venezuela after receiving a licence from the US Treasury's Office of.

ONGC eyes bigger Venezuela oil push after US sanctions clearance, may take over PDVSA projects

ONGC says sanctions-related constraints on its Venezuela projects have eased, allowing it to pursue fresh investment, new agreements and possible operatorship of oil blocks currently run by PDVSA.

ONGC gets U.S. licence to resume full Venezuela operations, eyes operatorship

The U.S. approval removes a key hurdle for ONGC's Venezuelan investments and could pave the way for the state-run explorer to expand production

ONGC bags US licence to resume full Venezuela operations

Venezuela is strategically important for ONGC because it holds the world's largest proven crude oil reserves, estimated by OPEC at about 303 billion barrels, more than Saudi Arabia.

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.