India’s OVL and Sudan seek to settle default payments through fresh talks

ONGC Videsh Limited (OVL), the overseas arm of India’s national oil, gas exploration and production major ONGC, has agreed with the Sudan government to work out a mechanism to settle the $400-million outstanding dues of the Indian oil company. The decision to find a solution through negotiations followed a visit of a Sudanese government delegation to ONGC headquarters in New Delhi, over the weekend, officials here said.