RTRS:Asia Crude-Sudan sells Aug Nile Blend at stronger differential
SINGAPORE, July 7 (Reuters) - India's Oil & Natural Gas Corp (ONGC) sold 600,000 barrels of heavy sweet Nile Blend crude from Sudan for loading in August at a stronger differential than the previous month as demand from Japan recovers, traders said on Thursday.
The producer sold the cargo to Petrobras at around $4 a barrel below Minas Indonesia Crude Price (ICP), they said.
The cargo will be processed at Petrobras' subsidiary Nansei Sekiyu, which operates a refinery in Okinawa, Japan.
Japanese utilities also use Nile Blend as a feedstock for their oil-fired power plants.
Last month, Sudan's state oil firm, Sudapet, sold via tender 600,000 barrels of Nile Blend crude for July loading at a wide discount of $4.65 a barrel than the previous month after demand for direct-burning crude slumped in Japan. (Reporting by Florence Tan and Nidhi Verma; Editing by Manash Goswami)
