ONGC Videsh Gets US Licence for Venezuela Operations

Oil and Natural Gas Corporation Ltd (ONGC) has clarified news regarding its operations in Venezuela. ONGC Videsh Limited (OVL), a subsidiary, received authorization from OFAC-USA in July 2026 to resume oil and gas operations in Venezuela, specifically for its San Cristobal and Carabobo-1 assets. Framework agreements for further actions are currently under discussion with stakeholders. The company stated that no material movement in share price was noticed and the operational or financial impact cannot be quantified at this stage, hence no prior disclosure was made.