ONGC clarifies report on OVL’s Venezuela operations, says framework talks underway

ONGC confirmed OVL’s bid for U.S. approval to resume operations in Venezuela, where it has significant assets that could be developed further. While a prior report suggested a license was granted, ONGC noted no material price movement or financial impact yet has been assessed.ONGC confirmed OVL’s bid for U.S. approval to resume operations in Venezuela, where it has significant assets that could be developed further. While a prior report suggested a license was granted, ONGC noted no material price movement or financial impact yet has been assessed.