IOC buys Nov Sokol cargo at near parity to Dubai benchmark

Indian Oil Corp , the country’s top refiner, has purchased a cargo of Russia’s Sokol oil for November delivery thorough a spot deal with a trading firm, a source familiar with the matter said.

The trader won the Sokol cargo at near parity with the Dubai benchmark in a recent tender floated by Russian oil giant Rosneft, the source said. IOC did not respond to Reuters email seeking comment.

Rosneft last month offered six cargoes of Sokol crude for loading in November to early December, signaling that output from the Sakhalin-1 project may be recovering following the departure of former operator Exxon Mobil Corp.