{"id":612665,"date":"2023-10-26T16:58:57","date_gmt":"2023-10-26T11:28:57","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=612665"},"modified":"2023-10-26T16:58:57","modified_gmt":"2023-10-26T11:28:57","slug":"ongc-hopes-to-recover-over-500-mln-dividend-as-sanctions-on-venezuela-eased","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-hopes-to-recover-over-500-mln-dividend-as-sanctions-on-venezuela-eased\/","title":{"rendered":"ONGC hopes to recover over $500 mln dividend as sanctions on Venezuela eased"},"content":{"rendered":"<p>Oil and Natural Gas Corp hopes to recover over $500 million in dividends pending since 2014 for its stake in Venezuelan projects as sanctions on the nation were eased, a source said on Thursday.<\/p>\n<p>The source declined to be named due to sensitivity of the matter.<\/p>\n<p>The Biden administration on Wednesday eased sanctions on Venezuela&#8217;s oil sector after the government and opposition parties reached a deal for the 2024 election, in the most extensive rollback of Trump-era restrictions on Caracas.<\/p>\n<p>U.S. sanctions had hit Venezuela&#8217;s finances and oil output, leading to accumulation of dividend for foreign companies such as ONGC.<\/p>\n<p>ONGC, through its overseas investment ONGC Videsh, holds 40% stake in the San Cristobal field in eastern Venezuela&#8217;s Orinoco Heavy Oil belt, and 11% in Carabobo area-1.<\/p>\n<p>ONGC would like to sell its share of oil from the Venezuela field to whoever offers the best price, the source said, adding lifting of sanctions has ignited hopes for a recovery of pending dividend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil and Natural Gas Corp hopes to recover over $500 million in dividends pending since 2014 for its stake in Venezuelan projects as sanctions on the nation were eased, a source said on Thursday. The source declined to be named due to sensitivity of the matter. The Biden administration on Wednesday eased sanctions on Venezuela&#8217;s oil sector after the government and opposition parties reached a deal for the 2024 election, in the most extensive rollback of Trump-era restrictions on Caracas. U.S. sanctions had hit Venezuela&#8217;s finances and oil output, leading to accumulation of dividend for foreign companies such as ONGC. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-612665","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/612665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=612665"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/612665\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=612665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=612665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=612665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}