Deregulation helps ONGC command premium over Brent on Mumbai crude

Deregulation of domestic crude appears to have tipped the balance in favour of producers as green shoots of a free market emerge. In term deals signed after getting marketing freedom, state-run producer ONGC is commanding a premium over global benchmark Brent for Mumbai offshore oil in spite of attempts by buyers, also from the public sector, to beat down prices by leveraging discounts on Russian supplies. ONGC produces 13-14 million tonnes per annum of crude oil from its fields in the Arabian Sea, off the Mumbai coast.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3QUBY01
>

Comments

Post a Comment

please do not enter any spam link in the comment box.

Popular posts from this blog

“It felt right to make my comeback with my dad’s song, ‘Woh Beete Din’”, says Tanya Kumar who will soon be making a comeback to music

Image
Remember Tanya Singh Kumar? Yes, the daughter of the late Ajit Singh who made her debut back in 1993 with the film Aaja Mere Jaan alongside Kirshan Kumar. Well since then Tanya has come a long way, from featuring on television to even venturing into music. But, Tanya has been away from the limelight. However, things are all set to change with Singh making a comeback to music with a recreation of her father Ajit Singh’s track ‘Woh Beete Din’ . Revealing her calling to develop the track and make a comeback to music, Tanya revealed that the entire process was like a calling. “My father passed on in 2020 very suddenly. But sometime in December ‘21, I started getting this ‘calling’ again. Almost as if my dad is pushing me to ‘do it’. All my friends and family started pushing me to start, especially my masi Sapna Morarji in Pune, who would actually call or text me every morning to check how much progress I’ve made with my training and music. So I started my vocal Riaz at home by myself, e...
Read more

Patym parent co president and COO quits

Image
One97 Communications (OCL), which owns brand Paytm, on Saturday said the company's president and chief operating officer (COO) Bhavesh Gupta has resigned from his position. Gupta, whose resignation comes amid a series of recent top level exits at the Noida-based fintech, will however move to an advisory role in the CEO office. Gupta quit citing personal reasons and his last day with the organisation-which has come under regulatory scrutiny due to non-compliance at its banking unit-will be on May 31. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/euVFi2M >
Read more