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Indian Oil Giant Secures U.S. License to Return to Venezuela

India’s Oil and Natural Gas Corporation has secured a license from the U.S. Office of Foreign Assets Control to return to Venezuela, Indian media have reported.

  • ONGC granted U.S. license to return to Venezuela.
  • Company holds 40% stake in San Cristobal oil project.
  • Potential to unlock over $500 million in dividends.

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