India’s Largest National Oil Explorer ONGC Inks Crude Oil Pact With MRPL: Read to Know

India’s Largest National Oil Explorer ONGC Inks Crude Oil Pact With MRPL: Read to Know

India’s Largest National oil explorer, Oil & Natural Gas Corporation Ltd (ONGC) has inked the Crude Oil Sales Agreement (COSA) with Mangalore Refinery and Petrochemicals Ltd (MRPL) which is the largest single-location PSU refinery in the country.

The current agreement between ONGC and MRPL will be applicable till March 31, 2024. Sanjay Kumar, ED marketing ONGC, and Chandermani GGM (impex and shipping) MRPL, signed the agreement on behalf of the two entities. From MRPL, Sanjay Varma MD, Vivek Tongaonkar director (Finance), BHV Prasad executive director (projects), Shyamprasad Kamath executive director (refinery) and other senior officers were present. rude stocks exceeded analysts’ expectations, and stockpiles at the Cushing storage hub fell to the lowest level since July 2022. The OPEC+ group is set to meet on October 4 to review the markets.