We understand the U.S. Government is progressively lifting sanctions [or] is in the process of liberalising trade from Venezuela,” he observed, adding, “We are awaiting those instructions as such but at the movement it is in a positive direction, and we are hopeful that we would be in a position to restart our operations once the on-ground and U.S. sanctions get lifted totally.”
ONGC awaits instructions about restarting operation in Venezuela, sees positive movement
ONGC has dividends worth $550 million stuck in the South American country.
Oil and Natural Gas Corporation (ONGC) is awaiting instructions about restarting operations in Venezuela, with movement being in a positive direction, Director (Finance) Vivek Tongaonkar told investors in an analyst call on Friday (February 13, 2026).
