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ONGC Videsh Offers Russian Sokol Crude Oil for February Loading

Dec. 2 (Bloomberg) -- ONGC Videsh Ltd., the overseas unit of India’s biggest explorer, is offering to sell Russia’s Sokol crude for loading in February, according to a document sent to potential buyers.

-----------------------------------------------------------
Crude oil:    Sokol
Quantity:     700,000 barrels
Loading:      Feb. 1 to Feb. 4
Port:         DeKastri, Sakhalin-1
Bids close:   Dec. 9
Bid validity: Dec. 10, 6:30 p.m. India time
-----------------------------------------------------------

ONGC Videsh, a wholly owned unit of Oil & Natural Gas Corp., is entitled to a share of Sokol output from the Sakhalin-1 project because it’s one of the investors. The other partners are Exxon Neftegas Ltd., Japan’s Sakhalin Oil & Gas Development Ltd. and two affiliates of Russia’s OAO Rosneft.

To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net

To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net

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