India sells 600k of Nile Blend for December
India’s state-owned Oil and Natural Gas Corp (ONGC) has sold via tender a 600,000 barrel-cargo of heavy sweet Nile Blend crude for December, trade sources told Reuters today.
ONCG owns a 25 percent stake in the Great Nile project producing in Sudan.
The Indian oil company awarded the cargo to Mitsubishi at a discount of around $1.30 a barrel to Minas Indonesia Crude Price (ICP), the sources said.
This is a similar to a previous tender which ONGC awarded to Unipec.
Minas, the benchmark for heavy sweet crudes sold in Asia, such as Nile Blend, normally trades below light sweet Brent crude, except at times of acute power shortages in Japan.
Unpaid Debt
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
