Tag: OVL

OVL, partners to pay $230 million in out of court settlement with Rosneft

NEW DELHI: ONGC Videsh Ltd (OVL) and its partners in Russia’s Sakhalin-1 project have agreed to pay Russian giant Rosneft $230 million to settle an oil production dispute out-of-court, its Managing Director N K Verma said. Rosneft had dragged the Sakhalin-1 consortium to court alleging “unjust enrichment and interest gained by using other people’s money” […]

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