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Venezuela's PDVSA misses debt payments, used Russian bank to pay ONGC - sources

Reuters  |  NEW DELHI 

By Nidhi VermaNEW DELHI (Reuters) - Venezuelan state oil-firm PDVSA has not made debt payments to India's top oil producer ONGC for six months, and has previously used a Russian state-owned bank and another Indian energy company as intermediaries to make payments, two sources familiar with the transactions said on Wednesday.ONGC Videsh, the overseas investment arm of ONGC, confirmed that PDVSA had fallen behind on the payments, but declined to give details on the delays."They have got certain challenges at this stage," ONGC Videsh said in an emailed response to Reuters' questions. "They have ...

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First Published: Thu, November 09 2017. 11:33 IST