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ONGC to land 2nd Sokol cargo by end of December

Oil and Natural Gas Corp. will bring its second Sokol crude cargo of 700,000 barrels from Sakhalin by Dec-end, R.S. Butola, managing director at ONGC Videsh, told reporters on Friday.

An ONGC subsidiary, Mangalore Refinery and Petrochemicals Ltd., on Friday received the first crude cargo of a similar size from Russia's Sakhalin field.

"This is a signal to the market that we are not dependent. We can bring Sokol crude to India for processing here," Butola said.

ONGC, Russia's Rosneft and Japanese consortium Sodeco hold stakes in the Exxon Mobil-led Sakhalin-1 oil field.

Sakhalin-1 is due to pump 250,000 barrels per day (bpd) by the end of this or early next year.

© Reuters

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