Mumbai: Oil and Natural Gas Corp Ltd has renewed a one-year contract for using Reliance Industries Ltd’s single buoy mooring facility at Hazira for an estimated value of over 1 bln rupees, sources told Cogencis. ONGC has agreed to pay RIL 830 rupees per tn of naphtha, which translates into a nearly 8% hike, for using the facility. ONGC, which is struggling to find domestic buyers for its naphtha, has been exporting the feedstock from this facility.

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