"South Sudan's oil shutdown dealt a major blow to the overseas oil ambitions of India's leading national oil company ONGC Videsh Ltd. (OVL)"
Since South Sudan won its independence from Sudan last year, a dispute over oil is edging the former foes closer to reigniting one of Africa's longest and deadliest wars. The Hindu : Opinion / Op-Ed : For oil and peace, India must stand up in the two Sudans. OVL has invested over $2.5 billion, but South Sudan's shutdown of its oil production has dealt a major blow to the company's overseas oil ambitions. The crown jewel of OVL's international portfolio lies dormant, precariously straddled across an undemarcated border, as the two sides engage in political brinkmanship and the ugly face of war nears.
India was the first Asian country to open a consulate in South Sudan's capital Juba. Yet first-mover advantage is useless if India does not make an effort to exploit it. New Delhi has done little to protect its economic interests in Sudan and South Sudan, or foster peace between the two sides.
If India truly wants to make a unique mark, it must roll up its sleeves and lend a hand in ending Africa's longstanding conflicts.
Since South Sudan won its independence from Sudan last year, a dispute over oil is edging the former foes closer to reigniting one of Africa's longest and deadliest wars. The Hindu : Opinion / Op-Ed : For oil and peace, India must stand up in the two Sudans. OVL has invested over $2.5 billion, but South Sudan's shutdown of its oil production has dealt a major blow to the company's overseas oil ambitions. The crown jewel of OVL's international portfolio lies dormant, precariously straddled across an undemarcated border, as the two sides engage in political brinkmanship and the ugly face of war nears.
India was the first Asian country to open a consulate in South Sudan's capital Juba. Yet first-mover advantage is useless if India does not make an effort to exploit it. New Delhi has done little to protect its economic interests in Sudan and South Sudan, or foster peace between the two sides.
If India truly wants to make a unique mark, it must roll up its sleeves and lend a hand in ending Africa's longstanding conflicts.
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