Indian energy stocks rose Jan. 5, 2026, after U.S. operation in Venezuela captured Maduro, boosting hopes for revived oil exports and recovery of $500M in unpaid dividends.

On January 5, 2026, Indian energy stocks increased after a U.S. military action in Venezuela that resulted in President Nicolás Maduro's arrest and caused market turbulence worldwide. Reliance Industries reached a 52-week high, while ONGC, Indian Oil, and other companies saw gains due to conjecture that U.S.-led initiatives to revitalize Venezuela's oil industry might allow ONGC to recoup more than $500 million in unpaid dividends from its Venezuelan projects. Analysts pointed out that if Venezuela's oil production starts up again, Indian refiners might benefit, but a new U.S. Reliance's ability to resume imports may be restricted by a 25% tariff on Venezuelan oil buyers. Geopolitical tensions did not affect crude prices.