As per reports, Oil and Natural Gas Corporation Limited (ONGC) has signed a term agreement with Hindustan Petroleum Corporation Limited (HPCL) for sale of 4.5 million tonnes per annum (mtpa) crude oil produced from its Mumbai’s offshore field. Earlier, it had signed a similar contract with Bharat Petroleum Corporation Limited for sale of 4 mtpa with optional 0.5 mtpa crude oil. ONGC produces 13-14 mtpa crude oil from its Mumbai offshore field in the Arabian sea.
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