Archive · 28 Jan 2026

India Seeks to Unlock OVL's Venezuela Dividends

India Seeks to Unlock OVL's Venezuela Dividends

India is trying to get money that's been stuck for years.

This money is from an oil field in Venezuela where an Indian company, ONGC Videsh Ltd, has a big share.

The US has rules that stop this money from coming to India.

Now, India is talking to both the US and Venezuela to get this money.

They are hoping that recent changes, like the US doing something big in Venezuela, might help them get the money.

The Indian company has been in Venezuela for a long time and has invested a lot there.

But because of these rules, they haven't been able to get their share of the profits.

They are now talking to everyone involved to try and solve this problem.

A team from Venezuela's oil company is coming to India to discuss this issue.

Some experts are not sure if this will be solved quickly, but India is hoping to get the money and maybe even get more oil from Venezuela.

Sources