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INDIA'S ONGC RECEIVES FIRST OIL SHIPMENT FROM SAKHALIN-I.

AsiaPulse News

| December 01, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, Dec 1 Asia Pulse - State-run Oil and Natural Gas Corp (ONGC) (BSE:500312) has received the first shipment of Sakhalin-I crude oil from Russia at its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL).

"Tanker Viktor Titov has arrived at Mangalore port. A formal function marking the arrival of the 100,000 tonnes of crude from Yuzhno-Sakhalinsk will be held on Saturday," a company official said.

ONGC Videsh Ltd, the overseas arm of ONGC, holds 20 per cent stake in the Sakhalin-I project, which is operated by ExxonMobil.

"Our entitlement from Sakhalin-I is three parcels of 700,000 barrels each in October-December. The first cargo will be processed at MRPL, while two others would be sold to ExxonMobil," he said.

ExxonMobil holds ...

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Source: HighBeam Research, INDIA'S ONGC RECEIVES FIRST OIL SHIPMENT FROM SAKHALIN-I.

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