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