ONGC Denied Nigeria Permission

摘要

India has denied ONGC Videsh Ltd. (OVL) permission to pay a $485 million signature bonus to get back two highly prospective deep-sea oil exploration blocks in Nigeria.Nigeria last month offered to restore the blocks, OPL 321 and OPL 323, to OVL if the Indian firm agreed to pay the signature bonus within 60 days. A company official, who wished not to be identified, said, however, that "the necessary investment approvals are not possible before the Mar. 6 deadline."