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By Rodrigo Santos Andrade
US control of Venezuela’s oil sector could help India recover dues
visibility comment0 event January 5, 2026 timer 10:07
Analysts have pointed to India as one of the beneficiaries if the Trump administration takes over Venezuela’s oil sector. US intervention could help ease financial strain on India’s state-run energy companies and enable them to recover more than half a billion dollars in unpaid dividends. State-owned ONGC Videsh holds a 40% stake in Venezuela’s San Cristobal oilfield. The company is reportedly owed close to US$500 million in dividends starting in 2014, after Caracas failed to make payments, reportedly citing financial constraints. India imports nearly 88% of its crude oil. Ishan Garg reports from New Delhi.
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