Advertisement

India says patience needed on Sudan's missed pipeline payments

By

NEW DELHI, Nov. 4 (UPI) -- Indian energy company ONGC Videsh Ltd. was asked to be patient with Sudan, which has missed four payments for pipeline work, officials said.

Sudan missed the payments to the international subsidiary of India's Oil and Natural Gas Corp. for pipeline work in Sudan, the Times of India reported Saturday.

Advertisement

"We should show some more patience to the government of Sudan ... as it would have repercussions on our engagement with that country in the oil sector," India's Ministry of External Affairs was quoted as saying.

The Times reported India is vying for a larger role in a Sudanese oil sector dominated by Chinese energy companies. Sudan controls most of the pipeline infrastructure in the country but lost some reserves to South Sudan when the latter gained independence in 2011.

"Our ambassador has also suggested [ONGC Videsh] should look at the possibility of converting our investment of $100 million in the multi-product pipeline into equity of the company that government of Sudan is expected to create by 2015," the ministry said.

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement