Indian refiners to get Sakhalin oil in October

India plans to begin transporting its share of crude from Sakhalin-I this fall, according to Minister of State for Petroleum and Natural Gas Dinsha Patel.

Aug. 18, 2006

Eric Watkins
Senior Correspondent

LOS ANGELES, Aug. 18 – India plans to begin transporting its share of crude from Sakhalin-I this fall, according to Minister of State for Petroleum and Natural Gas Dinsha Patel.

ONGC Videsh Ltd. has a 20% stake in the project, which is operated by ExxonMobil Corp.

Patel said OVL plans to bring the first two 700,000 bbl cargoes of oil from Sakhalin in October and December, and that the shipments would be auctioned off to Indian refiners.

Contact Eric Watkins at [email protected].