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Companies, such as ONGC, will most likely seek a premium over an international benchmark for the crude.
ONGC may even change the benchmark crude from Nigeria’s Bonny Light to Brent, the world’s most traded crude oil.
Vedanta’s Cairn Oil & Gas will get the freedom to sell oil from its Ravva oil field in eastern offshore. It currently sells Ravva crude only to HPCL.
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