You are here: Home » Reuters » News
Business Standard

ONGC gets $32 million payment from Venezuela's PDVSA

Reuters  |  NEW DELHI 

By Nidhi VermaNEW DELHI (Reuters) - India's Oil and Natural Gas Corp has received a payment of $32 million from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments and said it now hopes that Venezuela's state oil firm will be regular in making further payments, a senior ONGC official said."It is a good development," said N. K. Verma, managing director of ONGC Videsh, the overseas investment arm of ONGC."In between there was some break because of financial strain in their country. We hope now PDVSA will be regular and the agreed mechanism will continue," ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, December 05 2018. 10:46 IST
RECOMMENDED FOR YOU