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

Source: OilPrice.com · Nov 06, 2026 17:30 UTC

The Quick Take

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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