ONGC in talks to acquire PDVSA stakes in two Venezuela oilfields

India's ONGC is in talks with Venezuela's PDVSA to acquire stakes in two oilfields, San Cristobal and Carabobo. This move hinges on ONGC securing a crucial US license to operate, a requirement following US oversight of Venezuela's oil sector. The company aims for greater operational control, potentially boosting production and recovering stuck dividends. International majors have already received similar approvals.