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ongc: After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields

Oil and Natural Gas Corporation (ONGC) has signed an agreement to sell crude oil from its Mumbai offshore fields to Hindustan Petroleum Corporation Ltd (HPCL). This marks the second term agreement in as many months, as ONGC prefers term contracts over auctions where refiners offer deep discounts.

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After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields

After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields
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ONGC Mumbai Offshore Oil: After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields, ET Auto

ONGC Mumbai Offshore Oil: In the first auction last year, ONGC had offered 33 lots of 412,500 barrels each - 26 cargoes from Uran near Mumbai and seven cargoes from Mumbai offshore - for sale starting November 1, 2022 at a minimum USD 0.5 premium over the average monthly price of Brent.

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After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields

State-owned Oil and Natural Gas Corporation (ONGC) has signed an agreement to sell crude oil it produces from Mumbai offshore fields to HPCL — the second such agreement in as many months, as India’s top oil and gas producer prefers term contracts over auctions where refiners hammer deep

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After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields

After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields
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