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Thursday, December 15, 2016
Sudan has delayed giving ONGC an extension on Block 2B, as it negotiates for a higher take from the field, and from the Indian firm. According to reports the government in Khartoum is seeking higher royalties, tax, and profit.
ONGC’s license for the block expired earlier this month and it does have an automatic five-year extension available. However, Sudan, whose revenues have been hit hard with a drop in oil prices, wants higher taxes and royalties before it agrees to the extension, a Business Standard report said.
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