Sudan’s oil, gas block offer to India may fail to entice

Sudan’s offer of three more oil and gas blocks would face resistance from Indian national exploration and production (E&P) major ONGC Limited, as the company decided to slow or defer overseas investments in the wake of falling oil prices. According to an official of ONGC Videsh, the overseas arm of ONGC, the national E&P company was experiencing income and cash flows challenges as a result of low oil and gas prices and this would crimp financing options overseas.