Indian oil and gas company sells Abu Dhabi crude oil to Glencore in September

According to a Reuters report on August 27, trade sources said on Monday that ONGC Videsh had sold 1 million barrels of Abu Dhabi Das crude oil to Dubai at a premium of $1.30 to $1.40 per barrel.

They said that the oil loaded from September 28 to 30 will be awarded to Glencore.

They estimate that the price will be about 70 cents a barrel lower than the official selling price (OSP).

Earlier this year, a consortium led by the Indian oil and gas company won a 10% stake in the offshore oil concession of Abu Dhabi National Oil Co.

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