ONGC exploring option to recoup $600 mn oil dividend

India’s ONGC Videsh said it is exploring options including allocation of oil by Venezuela’s state oil company PdVSA to repatriate its pending $600 million dividend for a stake in a project in the south American nation. Indian refiners have resumed purchase of Venezuelan oil following the easing of U.S. sanctions last year. ONGC Videsh (OVL),

PDVSA allocates heavy crude cargo to Eni

PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company, people familiar with the matter said. Eni and Spanish oil firm Repsol in May last year received authorizations from the U.S.