Jaishankar’s Mozambique journey may give push to revival of ONGC Videsh-led gasoline problem

Express News Service

NEW DELHI: External Affairs Minister Dr S Jaishankar’s ongoing go to to Mozambique could end in talks over the resumption of operations of the ONGC Videsh-led offshore gasoline problem.

Jaishankar is at current in Mozambique — the first go to by an Indian External Affairs Minister after 2010 — and might meet his counterpart Veronica Macamo. He could even meet members of the Indian diaspora and representatives of the Assembly of Mozambique.

One of the expectations from this journey is the resumption of the gasoline problem that wanted to stop operations due to the insurgency.

“We hope that the minister’s go to supplies it a much-needed push. There is optimism that he could convey this up all through discussions,” said a provide.

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The ONGC Videsh-led consortium’s $20 billion ‘Offshore Area 1’ problem has been beneath energy majeure since April 2021 following assaults by Islamic State terrorists inside the coastal metropolis of Palma in Cabo Delgado province.

Total E&P Mozambique Area 1 Limitada, a subsidiary of TotalEnergies, holds a 26.5% stake inside the plant.

Force majeure is a clause that allows eradicating of obligation for pure disasters and catastrophes created by folks.

Three Indian public sector undertakings keep a 30 per cent stake in full inside the problem. ONGC Videsh holds 16 per cent, whereas BPRL Ventures Mozambique BV, a subsidiary of BPCL, and Oil India Ltd keep 10 per cent and 4 per cent respectively.

Meanwhile, commerce in native currencies may also be anticipated to be talked about as India is already shopping for and promoting inside the rupee with just some nations in Africa like Nigeria and Tanzania.

NEW DELHI: External Affairs Minister Dr S Jaishankar’s ongoing go to to Mozambique could end in talks over the resumption of operations of the ONGC Videsh-led offshore gasoline problem.

Jaishankar is at current in Mozambique — the first go to by an Indian External Affairs Minister after 2010 — and might meet his counterpart Veronica Macamo. He could even meet members of the Indian diaspora and representatives of the Assembly of Mozambique.

One of the expectations from this journey is the resumption of the gasoline problem that wanted to stop operations due to the insurgency.googletag.cmd.push(function() googletag.present(‘div-gpt-ad-8052921-2’); );

“We hope that the minister’s go to supplies it a much-needed push. There is optimism that he could convey this up all through discussions,” said a provide.

ALSO READ | India concerned over pro-Khalistani elements misusing asylum standing in UK

The ONGC Videsh-led consortium’s $20 billion ‘Offshore Area 1’ problem has been beneath energy majeure since April 2021 following assaults by Islamic State terrorists inside the coastal metropolis of Palma in Cabo Delgado province.

Total E&P Mozambique Area 1 Limitada, a subsidiary of TotalEnergies, holds a 26.5% stake inside the plant.

Force majeure is a clause that allows eradicating of obligation for pure disasters and catastrophes created by folks.

Three Indian public sector undertakings keep a 30 per cent stake in full inside the problem. ONGC Videsh holds 16 per cent, whereas BPRL Ventures Mozambique BV, a subsidiary of BPCL, and Oil India Ltd keep 10 per cent and 4 per cent respectively.

Meanwhile, commerce in native currencies may also be anticipated to be talked about as India is already shopping for and promoting inside the rupee with just some nations in Africa like Nigeria and Tanzania.