Sudan asks OVL to withdraw arbitration on oil dues Govt works to increase private role in non-coal mineral blocks exploration Tesla sues Ontario over scrapped electric car rebate

NEW DELHI: Sudan has asked ONGC Videsh Ltd to withdraw its case against the African nation in an international arbitration court for recovery of over $400 million in unpaid oil dues, saying it is making efforts to mitigate the default.

OVL, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), however, wants to continue with the arbitration while the two sides work out a suitable mechanism to resolve the issue, the company said in a statement here.

OVL had earlier this year dragged the government of Sudan to a London court to recover dues pending since 2011.

"A Sudanese ministerial delegation visited OVL corporate office last week and held discussions with ONGC Videsh officials led Narendra K Verma, Managing Director and CEO," the statement said. ONGC CMD Shashi Shanker

OVL has filed an arbitration claim in a London court to recover about $300 million for oil Sudan bought from its Greater Nile Oil Project and another $98.94 million in unpaid pipeline rent lease.

"The Ministerial delegation informed that the Government of Sudan is making sincere efforts to mitigate the

issue of default on paying dues to OVL.

"It was informed that the Government of Sudan is hopeful that its economic situation shall be improving henceforth with the recent agreement it reached with the Government of South Sudan on the resumption of crude oil transportation from South Sudan territory through the Heglig-port Sudan pipeline," it said.

The delegation, the statement issued by OVL said, requested the company to withdraw the arbitration proceedings.

"OVL expressed its happiness for the positive response from Sudan and stated that it is always ready to work with Sudan to find a workable solution to clear the pending dues in a time-bound manner," it said.

OVL, however, was of the belief that "keeping the legal intricacies in view, the arbitration process can continue while both sides work together on a suitable mechanism of resolving the issues".

OVL had in 2003 acquired 25 per cent interest in the Greater Nile Oil Project in Sudan. China's CNPC holds 40 per cent stake in the project, while Malaysia's Petronas has 30 per cent and Sudapet of Sudan owns remaining 5 per cent. NEW DELHI: Asserting that the exploration activity of noncoal mineral blocks should double every year, the mines ministry on Friday said it was working towards augmenting the participation of the private sector in this regard in the future, the government said on Friday.

"We are also preparing a document for increasing the private sector participation in the mineral exploration activity in future. We will be also allocating some money specifically for certain category of private sector participants so that the activity of exploration percolates to the private sector in India," Mines Joint Secretary Bipul Pathak said here.

He was speaking during the National Summit on Mineral Exploration and Sustainability.

"In my opinion at least the activity (exploration) should double every year now," he said adding that "there is a limit to what government agencies can do".

To increase the exploration, the private sector has to come in and that is the only way, he added.

Several industry bodies "have been stressing upon that the junior company concept is a very valid concept and has not taken off in India as yet. So we will be globalising our efforts under NMET (National Mineral Exploration Trust) to invite junior exploration companies to come and provide certain

level of assurance of businesses as well as certain level of assurance for collaboration with the Indian companies...to develop exploration projects and access the funding under the NMET scheme", he said.

The government, he said, is also trying to bring every

level of private participant in the exploration sector all over the world to come and work in India.

"Beyond their own licences, I don't think private sector has invested any money in exploration sector in the past. Even today, I don't think there is any investment happening on the part of the private sector," he added. Meanwhile, he said, that the draft National Mineral policy was being given final touches. MONTREAL: US electric automaker Tesla has sued the government of Ontario, Canada, after the province scrapped a rebate initiative for purchases of electric cars, Canadian media reported on Thursday.

Upon assuming power last July, Premier Doug Ford's conservative government announced the end of several green energy programs, including several thousands of dollars in rebates for electric car buyers.

Customers who ordered their car before July can still benefit from the program until mid-september -- except for hundreds of Tesla customers, according to the firm.

In court documents cited by Canadian media on Thursday, Tesla slammed the "arbitrary" exclusion.