ONGC set to revive operations in Venezuela
- Posted on August 5, 2026
- By Financial Express
- 1 Views
- 1 min read
In brief
India's ONGC Videsh is strategically expanding its global portfolio by acquiring operatorship of two major Venezuelan oil fields following the relaxation of international sanctions. This expansion marks a significant milestone in the company's international growth strategy, particularly in Latin America. Simultaneously, ONGC's restored participation in Russia's Sakhalin-1 project is expected to substantially enhance financial performance and shareholder value for the state-owned enterprise.
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ONGC set to revive operations in Venezuela
State-run ONGC is poised to take over operatorship of two Venezuelan oil projects, boosting its overseas growth after sanctions eased, while its stake restoration in Russia’s Sakhalin-1 significantly lifts ONGC Videsh’s profits.
