State-run upstream major Oil and Natural Gas Corporation (ONGC) on Friday signalled early movement on its long-stalled Venezuela investments while mapping out a fresh domestic growth pipeline anchored in gas projects and downstream expansion. Addressing analysts after the December-quarter earnings announcement, ONGC Director (Finance) Vivek Tongaonkar said regulatory easing around Venezuela could finally unlock cash flows that have remained frozen for years under US sanctions. “On Venezuela, we understand that the US government is progressively lifting sanctions or is in the progress of liberalising the trade from Venezuela and maybe allow other countries also, companies also, to start operations over there.