Asia Crude-ONGC sells second April Sokol, stronger

SINGAPORE, Feb 23 (Reuters) India's Oil and Natural Gas Corp. (ONGC) has awarded a tender to sell April-loading Sokol crude at around a stronger .50 premium to Oman/Dubai quotes on a delivered basis, a source close to the discussions said on Friday.

Japanese trader Mitsubishi won the tender, for a cargo loading April 15-18, the source said.

The price is stronger than in the last tender when ONGC sold a first cargo of April Sokol crude at below a .50-5.00 premium.

Output at the Sakhalin-1 field reached its targeted 250,000 barrels per day (bpd) capacity earlier this month.

State-run ONGC has a 20 percent stake in the project.

The Indian company issued on Thursday a tender to sell early-May Sokol crude [ID:nSP27886].

REUTERS KR DB1125