OVL eyes $413 million dividend recovery in Venezuela
NEW DELHI: Easing of US sanctions on Venezuela has raised hopes of state-run ONGC Videsh (OVL) recovering some $413 million dividend from the San Cristobal oilfield in the South American country, people in the know said on Thursday.
OVL holds 40% stake in the field in eastern Venezuela’s Orinoco heavy oil belt. It is operated jointly by ONGC Videsh and Venezuela’s national oil company PdVSA (Petroleos de Venezuela SA).
