ONGC may restart Venezuelan oil operations, signaling renewed foreign involvement in Venezuela’s energy sectorExecutive summary: ONGC Videsh is evaluating the resumption of operations at two onshore oil assets in Venezuela. The potential revival could add to global oil supply and reflects India’s effort to secure diverse energy sources. India’s state‑owned Oil and Natural Gas Corporation (ONGC) and Venezuela’s energy ministry, with possible involvement of foreign oil companies. ONGC is expected to conduct further feasibility studies, and Venezuela may issue formal invitations to international operators later this year.ONGC Videsh, the overseas arm of India’s Oil and Natural Gas Corporation, is assessing the revival of two onshore oil fields in Venezuela after the Venezuelan government indicated openness to foreign participation. The move reflects India’s strategy to diversify oil imports and could increase Venezuelan output if investment resumes. The decision is still at an exploratory stage with no final commitment announced.Connected developmentsQatar plans rapid restart of liquefied gas productionHow the Iran war affects your money and billsIndia temporarily blocks access to Telegram over exam fraud concernsEY GDS opens client experience centre in India in $1.4bn AI pushIndia’s Meesho to acquire B2B commerce platform Kirana ClubMaggi back in spotlight as India food regulator issues new noticeOpen the full case file on Beyond →
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