ONGC sells cargo of Russian Sokol crude

Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for loading in January at the highest premium in 22 mos on robust demand in Asia, trade sources said on Monday.

The 700,000-bbl cargo was sold at a premium of about $7.50 a bbl to Dubai quotes, the highest since trades registered in January 2020, according to the sources and data on Refinitiv Eikon.

Itochu bought the cargo loading on Jan. 8-14, they said.

ONGC last sold Sokol cargoes for December loading at $5.30-$5.90 a bbl.

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