Gulf Oil and Gas accountACCOUNT

ONGC Videsh Expects $400m Debt Repayment from Sudan

Source: Reuters 10/9/2017, Location: Africa

Share |
ONGC Videsh expects Sudan to clear about $400 million owed to the state-run energy company after the lifting of the U.S. sanctions, its managing director N.K. Verma said. The past dues were relating to building of pipeline and crude sales, Verma told Reuters at the India Energy Forum by Ceraweek in New Delhi. “Earlier they were facing problems and now it will be easy for them (Sudan) to raise funds,” he said.

The United States lifted long-standing sanctions against Sudan last Friday, saying Sudan had made progress fighting terrorism and easing humanitarian distress.

Oil production from ONGC Videsh’s three blocks in Sudan has declined to about 25,000 barrels per day from 48,000 bpd since last November after the Sudanese government failed to renew contract for Block 2B, Verma said.

Financials and Investment News in Sudan >>

United Kingdom >>  8/17/2018 - Independent Oil and Gas plc ("IOG"), the development and production focused Oil and Gas Company, is pleased to announce the proposed funding of its 10...
United Kingdom >>  8/16/2018 - Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement. While t...

United Arab Emirates >>  8/14/2018 - Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has announced that the issue of its new Sukuk has been completed...
United Kingdom >>  8/13/2018 - Petrofac has secured US$300 million of new bank facilities with existing relationship banks. These new committed facilities, which will mature in 2020...

Iran >>  8/6/2018 - Iran plans to implement a new financial rescue package on Monday to try and halt the rial’s decline, coinciding with the re-imposition of severe U.S. ...
Iran >>  8/5/2018 - Saudi Arabia has agreed to admit an Iranian diplomat to head an office representing Iranian interests in the kingdom, the official Iranian news agency...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Sudan Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Sudan >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.