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ONGC's overseas arm set to revive Venezuela operations

ONGC Videsh Ltd (OVL) had acquired assets overseas as part of increasing the state-run oil producer's crude output. The move to revive OVL operations in what's described as the nation with the world's biggest oil reserves comes as the Venezuelan government opens its oil sector to greater foreign participation under a new legal framework.

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economictimes.indiatimes.com

oilprice.com

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AI · summaries

economictimes.indiatimes.comStai leggendo1 mese fa

ONGC's overseas arm set to revive Venezuela operations

OVL, India's state-run oil arm, revives Venezuela operations with 40% stake in San Cristobal and 11% in Petrocarabobo under a new legal framework permitting profit repatriation. The move strengthens India's energy diversification beyond West Asia and Russia; Venezuela's new governance may shift global crude prices and geopolitical energy balances.

originale

oilprice.com1 mese fa

India’s ONGC Considers Resuming Venezuela Oil Operations | OilPrice.com

ONGC Videsh is evaluating the restart of operations at its Venezuelan oil assets as sanctions ease and foreign investment returns to the country's energy sector.

Timeline cronologica

lunedì 15 giugno 2026·economictimes.indiatimes.com
ONGC's overseas arm set to revive Venezuela operations
ONGC Videsh Ltd (OVL) had acquired assets overseas as part of increasing the state-run oil producer's crude output. The move to revive OVL operations in what's described as the…
martedì 16 giugno 2026·oilprice.com
India’s ONGC Considers Resuming Venezuela Oil Operations | OilPrice.com
ONGC Videsh is evaluating the restart of operations at its Venezuelan oil assets as sanctions ease and foreign investment returns to the country's energy sector.