State run Oil & Natural Gas Corp (ONGC) has recorded sale of 620,000 barrels of Nile Blend crude for January loading at a record premium after a disagreement between the Sudanese governments over pipeline transit fees reduced supplies.
The company has sold the cargo to load on January 16-31 to European trader Arcadia at a premium of $3 a barrel to the Minas Indonesia Crude Price (ICP). Sturdy demand for direct-burning crude from Japanese utilities also underpinned Nile Blend's price.
Recently, ONGC has written to 13 international companies, mainly from the US and Australia, for a proposed partnership in 19 oil and gas acreages, including the East Coast ultra-deepwater discovery. ONGC expects to complete the process by the second quarter of the next fiscal.
| Company Name | CMP |
|---|---|
| ONGC | 283.70 |
| Oil India | 466.55 |
| Jindal Drilling&Inds | 542.55 |
| Deep Industries | 482.05 |
| Asian Energy Service | 316.10 |
| View more.. | |
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