{"id":525359,"date":"2022-09-28T09:40:19","date_gmt":"2022-09-28T04:10:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=525359"},"modified":"2022-09-28T10:47:26","modified_gmt":"2022-09-28T05:17:26","slug":"ongc-gets-better-price-for-crude-oil-under-new-rules-says-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-gets-better-price-for-crude-oil-under-new-rules-says-report\/","title":{"rendered":"ONGC gets better price for crude oil under new rules, says report"},"content":{"rendered":"<p>India&#8217;s Oil and Natural Gas Corp has for the first time sold oil through a three-month local tender, commanding $5-$8 per barrel more than existing rates under new rules that allow producers marketing freedom, industry sources said.<\/p>\n<p>ONGC, the country&#8217;s top oil explorer, accepted bids at that level through auction of light sweet oil from its western offshore field, including supplies from the country&#8217;s flagship Mumbai High fields, they said.<\/p>\n<p>In June India abolished a rule that said oil from blocks awarded prior to 1999 must be sold to government-nominated customers, mostly state refiners. That meant producers such as ONGC and Oil India often sold oil from those blocks at below market rates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s Oil and Natural Gas Corp has for the first time sold oil through a three-month local tender, commanding $5-$8 per barrel more than existing rates under new rules that allow producers marketing freedom, industry sources said. ONGC, the country&#8217;s top oil explorer, accepted bids at that level through auction of light sweet oil from its western offshore field, including supplies from the country&#8217;s flagship Mumbai High fields, they said. In June India abolished a rule that said oil from blocks awarded prior to 1999 must be sold to government-nominated customers, mostly state refiners. That meant producers such as ONGC [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-525359","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=525359"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525359\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=525359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=525359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=525359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}