India’s state-owned Indian Oil Corporation (IOC) has made a decisive move away from US crude, purchasing three million barrels of West African and Middle Eastern oil in its latest procurement round.
Trade sources revealed on Friday that IOC acquired two million barrels of West African crude and one million barrels of Middle Eastern grade, reflecting the nation’s evolving energy security strategy.
The purchase included one million barrels each of Nigeria’s premium Agbami and Usan oil grades from French energy giant TotalEnergies.
Additionally, IOC secured one million barrels of Abu Dhabi’s Das crude from Shell, with the Nigerian cargoes purchased free-on-board (FOB) and the Das crude delivered.
These oil shipments are expected to arrive at Indian ports between late October and early November, supporting the country’s refining operations during peak demand season.
This procurement strategy represents a stark contrast to the previous week when IOC purchased five million barrels of US West Texas Intermediate (WTI) crude.
The shift toward West African oil imports has gained momentum throughout 2025, with over two million barrels of Nigerian crude already scheduled for delivery between September and October.
This diversification strategy demonstrates India’s commitment to maintaining multiple supply sources while optimizing procurement costs.
India’s oil sourcing strategy has undergone significant transformation since 2022, when the country capitalized on discounted Russian crude following Moscow’s Ukraine invasion.
New Delhi strategically leveraged reduced-price Russian oil to shield itself from global energy price volatility while navigating Western sanctions.
However, President Trump’s recent campaign to curtail Moscow’s energy revenues has prompted Indian refiners to reduce Russian oil imports significantly.
State-owned companies have ceased Russian crude acquisitions since late July, forcing India to seek alternative suppliers.
These new developments present substantial opportunities for African oil-producing nations, particularly Nigeria.
The country can anticipate increased revenue from growing Indian demand, potentially stabilizing export earnings amid intensified global market competition for crude oil buyers.