Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over global benchmark Brent for Mumbai offshore oil in spite of attempts by buyers, also from the public sector, to beat down prices by leveraging discounts on Russian supplies. ONGC produces 13-14 million tonnes per annum of crude oil from its fields in the Arabian Sea, off the Mumbai coast.
from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7hbDCVf
Subscribe to:
Post Comments (Atom)
Dow soars over 1,300 pts, Sensex 900 pts
Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory...
-
A woman, in her early 20s, was stabbed to death by a man in southeast Delhi's Bhogal area on Friday evening, following which the accused...
-
Collecting Lego — yes, the plastic toys made of interlocking bricks that become cars and castles and robots —returned more than large stocks...
-
The Delhi High Court on Thursday dismissed the pleas of TTV Dhinakaran and VK Sasikala challenging the Election Commission's order grant...
No comments:
Post a Comment