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