Indian oil explorer ONGC Videsh has sold Abu Dhabi’s Das crude supplies for 2022 to Trafigura via a tender at a stronger premium than last year, trade sources said on Friday, signalling strong demand for light sour crude.
This is the second consecutive year that the European trader has won the tender.
Trafigura will pay more than 30 cents a barrel above the crude’s official selling price (OSP) for the supplies, the sources said, up from premiums of 15-20 cents last year.
ONGC had offered 5.5 million to 6 million barrels of Das crude in the tender.
Source: Reuters (Reporting by Florence Tan; Editing by Edmund Blair)