TOKYO, Jan 12: Oil and Natural Gas Corporation (ONGC)  has sold 600,000-barrels of Sudanes

By Staff
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Google Oneindia News

TOKYO, Jan 12: Oil and Natural Gas Corporation (ONGC) has sold 600,000-barrels of Sudanese Nile Blend crude to Chinaoil for loading in February via a second tender for the month, traders said on Friday.

ONGC sold the barrels for Feb. 15-17 loading, they said.

The deals were not confirmed by the companies and price details were not available.

In the previous tender, ONGC sold the same volume of the grade for first-half February to the Chinese refiner at a discount of around $2.20 a barrel to Minas Indonesia Crude Price.

The price was weaker than its earlier deal and more than $1 below Sudan's state oil firm Sudapet's February tender.

ONGC holds a 25 percent stake in the Greater Nile project, which produces some 300,000 barrels per day (bpd) of Nile Blend crude. It normally sells one or two cargoes a month and uses the rest at its refinery in Mangalore.

REUTERS

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