Why ONGC is eyeing two oilfields in Venezuela; in talks with state-run oil company PDVSA, seeks US approval

Venezuela’s oil industry has witnessed a prolonged decline due to a combination of depressed oil prices, economic mismanagement and US sanctions. During this period, PDVSA’s operational capabilities have also weakened considerably.

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Why ONGC is eyeing two oilfields in Venezuela; in talks with state-run oil company PDVSA, seeks US approval

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