India’s ONGC sells Trafigura to Das 2022 oil shipments – sources

The Oil and Natural Gas Corp (ONGC) logo is depicted on the side of a road in Ahmedabad, India on September 6, 2016. REUTERS / Amit Dave / File Photo

SINGAPORE, Oct 1 (Reuters) – Indian oil company ONGC Videsh sold Das crude oil reserves in Abu Dhabi for 2022 to Trafigura in a tender at a higher premium than last year, trade sources said Friday, indicating strong demand for light oil.

This is the second consecutive year that a European trader has won a tender.

Sources said Trafigura will pay more than 30 cents a barrel for shipments in excess of the official selling price of oil (OSP), up from 15-20 cents in premiums last year.

ONGC has offered at a tender from 5.5 to 6 million barrels of Das oil.

Reporting by Florence Tan; Edmund Blair’s editorial staff

Our Standards: Thomson Reuters Trust Principles.

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