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ONGC sells 620,000 barrels of Sudan Nile Blend crude for January

28 Dec 2011 Evaluate

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.

ONGC Share Price

283.70 0.35 (0.12%)
21-Apr-2026 13:11 View Price Chart
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Company Name CMP
ONGC 283.70
Oil India 466.55
Jindal Drilling&Inds 542.55
Deep Industries 482.05
Asian Energy Service 316.10
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