Indian Oil Corporation Buys Nigerian and Middle Eastern Crude, Skips U.S. Oil Amid Global Market Shifts
Indian Oil Corporation (IOC), the country’s largest state-owned refiner, has adjusted its crude procurement strategy in recent weeks, opting against U.S. supplies and turning instead to West African and Middle Eastern grades.
Trade sources confirmed on Friday that IOC secured two million barrels of West African crude and one million barrels of Middle Eastern crude, underscoring both geopolitical considerations and India’s long-term energy security goals.
The acquisitions included one million barrels each of Nigeria’s Agbami and Usan oil grades, purchased from French energy giant TotalEnergies, along with one million barrels of Abu Dhabi’s Das crude bought from Shell.
According to sources, the Nigerian cargoes were obtained on a free-on-board (FOB) basis, while the Das crude was purchased delivered. Shipments are expected to arrive at Indian ports between late October and early November 2025.
A Clear Shift Away from U.S. Crude
The move marks a noticeable departure from IOC’s earlier buying pattern. Just last week, the refiner acquired five million barrels of U.S. West Texas Intermediate (WTI), as reported by Reuters.
India’s pivot toward West African oil has been building momentum. In September, reports noted that over two million barrels of Nigerian crude were already scheduled for delivery between September and October.
India’s evolving oil strategy comes against the backdrop of shifting global energy politics. Since Russia’s invasion of Ukraine in 2022, New Delhi has been a major buyer of discounted Russian crude, shielding its economy from soaring international prices while skirting Western sanctions.
But U.S. pressure is now reshaping that dynamic. Washington’s campaign to curtail Moscow’s energy revenues has prompted Indian state-owned refiners to pause Russian imports since late July 2025, forcing a recalibration in sourcing.
For oil-exporting nations in Africa, India’s diversification offers an important opportunity. Nigeria and Angola, in particular, are positioning themselves to benefit from the growing Indian demand, potentially stabilizing their export earnings amid fierce global competition for markets.
