ONGC to launch trading unit for crude and refined fuels
NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) is planning to establish a trading unit for crude oil and refined fuels for its group companies, said Rajarshi Gupta, Managing Director of ONGC Videsh, the overseas arm of ONGC.
Gupta clarified that the plan is still at a preliminary stage, with an internal group formed to discuss the modalities, including legal and operational issues. “The trading unit will help ONGC streamline the sales and purchase of crude oil and refined fuels,” Gupta added.
