CNA US control of Venezuela’s oil sector could help India recover dues

Analysts have pointed to India as one of the beneficiaries if the Trump administration takes over Venezuela’s oil sector. US intervention could help ease financial strain on India’s state-run energy companies and enable them to recover more than half a billion dollars in unpaid dividends. State-owned ONGC Videsh holds a 40% stake in Venezuela’s San Cristobal oilfield. The company is reportedly owed close to US$500 million in dividends starting in 2014, after Caracas failed to make payments, reportedly citing financial constraints. India imports nearly 88% of its crude oil. Ishan Garg reports from New Delhi.

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