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ONGC gets US licence to resume Venezuela operations, eyes operatorship
State-owned Oil and Natural Gas Corp (ONGC) has secured a licence from the US Treasury's Office of Foreign Assets Control (OFAC), allowing it to resume full operations in Venezuela after years of limiting activity because of sanctions-related risks, a senior company official said. The US approval removes a key hurdle for ONGC's Venezuelan investments and could pave the way for the state-run explorer to expand production, sign new agreements and take over operatorship of some projects from Venez…
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