India’s ONGC is poised to take over operation of two Venezuelan oil projects from state-owned PDVSA, which would give the Indian producer direct operational control over assets of the world’s largest proven crude oil reserves.

ONGC plans to operate two Venezuelan oil blocks soon under new laws. The company regained its stake in Russia's Sakhalin-1 project last December. This restored stake increased…

India’s ONGC is poised to take over operation of two Venezuelan oil projects from state-owned PDVSA, which would give the Indian producer direct operational control over assets of…