ONGC gets US licence to resume full Venezuela operations, eyes operatorship
What it is about
Who published it, and when
How it spread - 4 original reports
Sun, 16 August 2026
1 report- indiatimes.com05:38first to report
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.
Mon, 17 August 2026
2 reports- webindia123.com08:27
- Times of India15:17
ONGC has successfully obtained approval from the US Treasury, allowing it to further extend its oil operations in Venezuela. The newly acquired license significantly reduces sanctions-related barriers, paving the way for increased investments and production capabilities. With this development, ONGC can explore new contracts and possibly take over projects from PDVSA.
Wed, 26 August 2026
1 report- oilprice.com14:30
ONGC plans to invest about $200 million to revive Venezuela’s San Cristobal oilfield and ultimately restore production to as much as 50,000 barrels per day.