India’s Top Oil Producer to Set Up Crude and Fuel Trading Unit

India’s state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas producer in the country, plans to launch a trading unit for crude and refined petroleum products for its subsidiaries and affiliates, according to a senior executive.  ONGC’s idea to create a trading unit is still at an early stage, and “an internal group has been formed to discuss and look into the modalities, including legal issues,” Rajarshi Gupta, managing director at ONGC Videsh, said on Tuesday, as carried by Reuters. “We…