India’s second-largest national oil explorer, Oil India Limited (OIL) has inked the Crude Oil Sales Agreement (COSA) with Numaligarh Refinery. The agreement has been signed by the two entities for sale and purchase of crude oil. The COSA agreement is expected to streamline sale and purchase transactions of crude oil which will be produced from fields in the North East India. The COSA agreement will be effective for a term of five years, i.e. from 1 April, 2020 to 31 March 2025.
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