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India’s ONGC Offers 700,000 Barrels of Sokol Crude for May

March 22 (Bloomberg) -- ONGC Videsh Ltd., the overseas unit of India’s Oil & Natural Gas Corp., offered to sell 700,000 barrels of Sokol crude for loading May 26 to May 29 from Russia’s Far East, according to a notice sent to potential buyers. Bids are due March 28.

Details of the offer are as follow:

-----------------------------------------------------------
Crude oil:     Sokol (Russia)
Quantity:      700,000 barrels
Loading:       May 26 to May 29
Pricing:       Average of Platts Dubai and Oman
Basis:         Cost-and-freight (C.F.R.)
Port:          DeKastri Terminal, Sakhalin, Russia
Bids Close:    March 28, 9:30 a.m. India time
Bids Validity: March 29, 6:30 p.m. India time
-----------------------------------------------------------

To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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