ONGC Videsh Ltd. (OVL) has rejected Venezuela’s offer for additional stake in an oilfield as it fears the Latin American nation may use it as an excuse to not pay $449 million of dues, a top official said. State oil firm Petroleos de Venezuela SA had last year offered a 9% stake in the San Cristobal field to OVL. OVL already holds a 40% stake in the field, which produces about 18,000 barrels of oil per day.PTI
Source : https://www.thehindu.com/todays-paper/tp-business/ovl-declines-venezuelas-offer-for-additional-stake-in-oilfield/article24911603.ece
