ONGC Videsh sells Russia’s Sokol oil to HPCL, BPCL: Sources

ONGC Videsh Ltd has sold at least one cargo of Russian Sokol oil to India refiners Hindustan Petroleum Corp and Bharat Petroleum Corp after failing to draw interest in a tender earlier this month, sources familiar with the matter said.

Indian companies are snapping up Russian oil as it is available at a deep discounts after some companies and countries shunned purchases from Moscow due to sanctions against Russia for its Ukraine invasion.