Image default
Energy News

ONGC sells Dec-loading Russian Sokol crude at wider discount: Sources


SINGAPORE: Indian oil explorer

ONGC

has sold a RussianSokol crudecargo, loading Dec. 18-24, at a discount of around 60 cents a barrel to Dubai quotes via its second spot tender, trade sources said on Monday.

The name of the buyer was not immediately clear.

Prices of Sokol crude, which yields more middle distillates like jet fuel and gasoil from refining, took a hit this year as transport fuel demand slumped due to government measures to contain the COVID-19 pandemic.

Earlier this month, ONGC and Exxon Mobil sold December-loading Sokol crude cargoes at discounts of around 30-40 cents a barrel to Dubai quotes..

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Source

Related posts

Incorporating solar harvesting into the side of buildings could enhance energy sustainability: Research demonstrates the potential of a solar unit that can hang on the outside of a structure

TheEarthLab

INNOVATION: IIT-M shows technique to enhance output of piezoelectric materials

TheEarthLab

Tata Power completes sale of its defence business to Tata Advanced Systems

TheEarthLab

Leave a Comment