US grip on Venezuelan oil could help India recover $1bn dues, revive stalled output
A US-led takeover of Venezuela's oil sector could significantly benefit India, potentially recovering nearly $1 billion in long-pending payments and reviving crude production from fields operated by Indian firms. With US sanctions eased, ONGC Videsh Ltd could restart operations at the San Cristobal oilfield, boosting output and allowing for the recovery of dues.
A US-led takeover of Venezuela's oil sector could significantly benefit India, potentially recovering nearly $1 billion in long-pending payments and reviving crude production from fields operated by Indian firms. With US sanctions eased, ONGC Videsh Ltd could restart operations at the San Cristobal oilfield, boosting output and allowing for the recovery of dues.
