How US Takeover of Venezuela is Likely To Settle India’s $1B Debt and Reshape Energy Trade

The recent shift toward U.S. oversight of the Venezuelan oil sector following the removal of President Nicolás Maduro could be a massive windfall for India’s energy security and its state-run oil companies. Here is a breakdown of the key impacts and strategic shifts for India: 1. Financial Recovery and Production Revival India stands to recover nearly $1 billion in long-stalled dividends and dues. Advertisement Settling Debts: ONGC Videsh Ltd (OVL) has been waiting on over $500 million in dividends from the San Cristobal field since 2014, with another $500 million tied up in unaudited claims. U.S. control of the sector…