Africa Oil & Gas: Sudan Wants ONGC Videsh To Withdraw Arbitration Over Oil Payment Dues

Africa Oil & Gas: Sudan Wants ONGC Videsh To Withdraw Arbitration Over Oil Payment Dues

(Reuters) – Sudan wants India’s ONGC Videsh Ltd (OVL) to withdraw arbitration proceedings against the African nation as it is making efforts to mitigate default on payment of dues, OVL said in a statement on Friday.

Read More

Africa Oil & Gas: ONGC files arbitration claim against Sudan over unpaid oil dues

The foreign acquisition unit of India’s Oil and Natural Gas Corp (ONGC) has filed an arbitration claim against the government of Sudan in a London court, a company official said, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011.

Read More

Mozambique Oil & Gas: “Why Indian investments in Mozambique are facing bad weather” – Financial Express

Investment by Indian exploring companies in Mozambique gas field is unlikely to see any returns till 2022. This is due to instability in the host nation and not-so-keen approach by other consortium partners and no signs of a liquefied natural gas (LNG) terminal, required to transport fuel. The field was expected to start production by 2019. Indian companies have made an investment of $6.5 billion in the African country. While ONGC Videsh (OVL), the overseas…

Read More

Mozambique Oil & Gas: ONGC’S Mozambique deal under scrutiny; may have overpaid $200 mn

Indian state owned oil and gas company ONGC’s $2.475bn purchase of Videocon’s 10% stake in a Mozambican gas field has come under government scrutiny following allegations that the company overpaid about $200mn, Press Trust of India reported February 12.

Read More

Africa Oil & Gas: “Insecurity and conflict still hampering South Sudan’s oil” – Petroleum Economist reports

Heavily in debt and still suffering ruinous violence, South Sudan desperately needs to lift oil production and has bright hopes to send exports to neighbouring Ethiopia. The government in Juba has even suggested that output could reach 0.5m barrels a day, the level it says it was pumping before civil war broke out in 2013.

Read More

Mozambique Oil & Gas Industry: Exxon Mobil, Qatar Petroleum pondering Anadarko natural gas assets acquisition

US group Anadarko Petroleum is studying the possible sale of natural gas assets in Mozambique with Exxon Mobil and Qatar Petroleum having expressed interest in the deal, according to a report from the Reuters news agency, quoted by Macauhub. The agency cited banking and industry sources as saying that the Anadarko Petroleum group may sell the entire 26.5 percent holding in the Area 1 concession of the Rovuma basin in northern Mozambique, where it discovered…

Read More

Mozambique Oil & Gas: ONGC, OIL and BPCL to invest $6 bn in Rovuma Area-1

India State-run ONGC, OIL and BPCL  will invest $6 billion in the next four years to develope a giant gas field off the Mozambique coast and converting the fuel into LNG for export to nations such as India, country oil minister Dharmendra Pradhan said recently as quoted by the local press.

Read More

Mozambique Oil & Gas: “Country may become world’s 3rd largest gas producer”, says PWC

Mozambique has the potential to be the world’s third largest producer of natural gas, after Qatar and Australia, but needs to secure between US$20 billion and US$25 billion dollars in foreign investment, according to the PricewaterhouseCoopers consultancy.

Read More

Mozambique Mining Industry: India expresses concerns over uncertainties

India is keeping close tabs on the elections in Mozambique and is ready to initiate fresh talks with the new government to further already-committed investments by Coal India Limited (CIL) and ONGC Limited in the African nation.

Read More