Sudan govt wants ONGC Videsh to withdraw arbitration process

ONGC Videsh says it is eager to work with Sudan to find a solution to clear outstanding dues

GN Bureau | August 24, 2018


#ONGC   #ONGC Videsh   #Sudan   #PSU  

A Sudanese ministerial delegation recently paid a visit to ONGC Videsh office in New Delhi to discuss key issues on outstanding dues.

The delegation apprised the ONGC Videsh that the government of Sudan is making sincere efforts to mitigate the issue of default on payment dues to the latter. It was informed the Sudanese government is optimistic about the improvement in economic situation henceforth with the recent agreement it reached with the government of South Sudan on resumption of crude oil transportation from South Sudan territory through the Heglig-Port Sudan pipeline. The visiting delegation requested ONGC Videsh to withdraw the arbitration process instituted against the Sudanese government.

ONGC Videsh expressed its happiness for the positive response from Sudan and stated that the corporation is always ready to work with Sudan to find a workable solution to clear the outstanding dues. It was further informed by ONGC Videsh that keeping the legal intricacies in view, the arbitration process can continue while both sides work together on suitable mechanism of resolving the issues.

As sought by the delegation, ONGC Videsh agreed to depute a team of officials to Sudan for initiating techno-commercial discussions afresh so as to workout way forward for settlement of previous dues. The discussions with the Sudanese side are presently ongoing.

Comments

 

Other News

Careless whispers and the impossible trinity

Time can never mend, the careless whispers of …    As the RBI marches ahead, for the upcoming monetary policy meeting this June, whispers from the corridors echo around several policy options to defend the rupee – by deploying forex reserves, raising in

Bullet Train Project: Third mountain tunnel breakthrough achieved

A major engineering milestone has been achieved in the Mumbai–Ahmedabad Bullet Train Project with the successful breakthrough of the third mountain tunnel (MT-07) at Ambesari village in Dahanu Taluka of Palghar district, Maharashtra.   With this achievement, three mountain

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri

Astonishing breadth and depth of ancient Indian knowledge systems

The Greatest Books of Ancient India: Incredible Ideas about Science, Music, Maths, Art and More By Dr. Pradeep Chakravarthy and Dr. R. Thiagarajan Hachette India, 208 pages, Rs 399  

Strong El Nino threat over India`s monsoon, food & water security

India is heading into the southwest monsoon season this year under the shadow of a rapidly strengthening El Nino, with meteorologists warning that the climate phenomenon could significantly disrupt rainfall patterns, intensify heat stress and place additional pressure on the country’s agriculture-d

How corporates can nudge real change

The Business Of Business Is (Not) Just Business: How Behavioural Tools Can Drive Real Change Edited by Sutapa Banerjee, with Foreword by Nadir Godrej HarperCollins, 336 pages, Rs 699  





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter