# ONGC Moves to Take Over Venezuelan Oilfields, Recover $500 Million

- Source: OilPrice.com
- Published: 2026-11-06T17:30:00+00:00
- Category: Markets
- Original: https://oilprice.com/Latest-Energy-News/World-News/ONGC-Moves-to-Take-Over-Venezuelan-Oilfields-Recover-500-Million.html
- Canonical: https://groundlevelnews.com/story/ongc-moves-to-take-over-venezuelan-oilfields-recover-500-million-cdb949/

India’s state-owned Oil and Natural Gas Corp. (ONGC) is negotiating to take over operations at two Venezuelan oil projects within six months, a move that could give it control over production and sales at fields where it is owed more than $500 million in dividends. The company's overseas arm, ONGC Videsh, is in advanced discussions with Venezuelan and U.S. authorities, finance chief Anupam Agarwal

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