Oil and Natural Gas Corporation's (ONGC) overseas arm - ONGC Videsh (OVL) has reportedly sold a cargo of Russian Sokol crude loading in November at its highest premium in 2017 on robust demand in Asia. The 700,000-barrel cargo was sold to Vitol at a premium of $4.50 a barrel above Dubai quotes. The cargo will load on November 18 to 24, 2017.
ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.