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ONGC offers Russian Sokol for Nov

Oil and Natural Gas Corp. (ONGC) has issued a tender to sell a cargo of Sokol crude for early-November loading, tender documents showed on Tuesday. ONGC , which has a 20 percent stake in the Exxon Mobil Corp. -led Sakhalin-1 field, is offering 700,000 barrels for November 8 loading from the De Kastri Terminal.

The tender closes on August 30 and bids are to remain valid until August 31, the document showed.

In its previous tender, ONGC sold a Sokol cargo for October 16 loading at a premium of around $8 a barrel to the average of Oman and Dubai quotes. An earlier-loading October cargo fetched a record-high $8.50 premium as premiums of rival Abu Dhabi's Murban sour crude soar ahead of oilfield maintenance.

© Economic Times

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