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 income and cash flows challenges from low oil and gas prices and this would scrimp financing options overseas.
