India Buys Four Million Barrels of Nigerian Crude Amid US-Iran Crisis Disruptions

India's state-owned Hindustan Petroleum Corporation Limited (HPCL) has purchased four million barrels of Nigerian crude oil in recent deals, aiming to secure alternative supplies amid disruptions to Middle Eastern oil shipments.

The purchases include two separate transactions where HPCL bought one million barrels each of Forcados and Bonga crude grades from Shell for its Visakh refinery in Andhra Pradesh. Earlier, the company acquired another two million barrels of Nigerian crude from Glencore through a tender.

The crude bought from Glencore will be supplied to HPCL's Rajasthan refinery, which has a processing capacity of 180,000 barrels per day. The purchases highlight India's growing demand for Nigerian crude as supplies from the Middle East remain disrupted by shipping constraints around the Strait of Hormuz and Bab el-Mandeb.