ONGC to receive Sakhalin crude shipment

Mumbai: Indian state-run Oil and natural Gas Corporation (ONGC) is to receive its first cargo of 90,000 tonnes of crude oil from Russia's Sakhalin-1 project at the South Indian port of Mangalore early next month. The shipment, one of three for the total contract of 2100,000 barrels, will be processed at ONGC subsidiary 'Mangalore Refinery and Petrochemicals Ltd' while other two cargoes will be sold to US based ExxonMobil. ONGC's oversea subsidiary ONGC Videsh Ltd is to receive 2.4 million tonnes of crude oil next year in lieu of its 20% stake in the Russian project.