First cargo of Das blend crude oil arrives in New Mangalore

It is the first time that Indian oil and gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources

GN Bureau | June 9, 2018


#oil and gas   #hydrocarbon   #Das blend crude oil   #ONGC Videsh   #Abu Dhabi   #MRPL   #PSU  

ONGC Videsh Limited, a subsidiary of ONGC, has received the first equity cargo of Das blend crude oil in New Mangalore. The Das blend crude oil originates from the Lower Zakum oilfield in Abu Dhabi, which currently produces 4,00,000 barrels per day.

 
ONGC Videsh led Indian consortium acquired 10 percent participating interest in Lower Zakum Concession through its Dutch joint venture company - Falcon Oil & Gas BV. The Indian consortium led by ONGC Videsh include BPRL and IOCL. Other shareholders in the LZ concession are ADNOC (60%), CNPC and JODCO (10% each) and TOTAL and ENI (5% each). 
 
It is the first time that Indian oil and gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources. The agreements were signed in Abu Dhabi on February 10, 2018 in the presence of prime minister Narendra Modi.
 
This first equity cargo of 6,90,000 bbls which was loaded onto the vessel MT Wafrah on June 2, 2018, was sold by ONGC Videsh for refining to MRPL, an ONGC group company in the downstream business. This sale to MRPL further demonstrates the commitment of the ONGC group in enhancing the energy security for the nation.
 
Das blend crude is best positioned among the ONGC Videsh portfolio of equity crudes to flow to India. It is a grade of crude which is regularly bought by several Indian refiners. 

Comments

 

Other News

“If the oppn is weak you can’t blame the govt for that”

A three-term Rajya Sabha member, Sanjay Raut is the Shiv Sena spokesperson and its voice in parliament. He is also the executive editor of Marathi newspaper Samana, started by Shiv Sena founder Bal Thackeray. Raut spoke with Geetanjali Minhas on his party’s seat-sharing agreement

Ashish Shelar of BJP says, “We are very confident of victory”

Ashish Shelar, 47, was the president of the Mumbai city unit of the BJP, before he became the minister of school education, sports and youth welfare in the Maharashta government this year. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with

Nobel for economics goes to `global fight against poverty`

The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc

Modi-Xi script a new chapter in bilateral relations

Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t

Dharma as the original Idea of India

Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.

Prakash Ambedkar on why he wants other parties to mention the candidates’ community

Prakash Ambedkar, grandson of Dr BR Ambedkar and popularly known as Balasaheb Ambedkar, heads the Vanchit Bahujan Aghadi (VBA). The three-time MP founded this new political party last year with a vision of Ambedkarism, secularism, socialism and progressivism. The VBA, registered this year before the Lo



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter