Venezuela stops payment of oil dues to ONGC Videsh

Cash-strapped Venezuela has stopped payments of oil dues to ONGC Videsh Ltd (OVL), leading to a $450 million pile-up, its MD & CEO Narendra K Verma said. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has 40 per cent stake in Venezuela’s San Cristobal field, which produces around 18,000 barrels of […]