Industry sources said the Indian Oil Corporation (IOC) recently bought one million barrels of Nigerian Agbami crude for September delivery through a tender awarded to global trading firm Trafigura
India’s state-owned refineries are turning to Nigerian crude oil to meet supply needs, signaling a major shift in global energy trade flows. More than two million barrels of Nigerian oil are expected to arrive in India between September and October 2025, as U.S. political pressure pushes New Delhi to scale back imports from Russia.
Industry sources said the Indian Oil Corporation (IOC) recently bought one million barrels of Nigerian Agbami crude for September delivery through a tender awarded to global trading firm Trafigura. Bharat Petroleum Corporation Limited (BPCL), the country’s second-largest state refiner, also secured spot purchases for September shipments.
India’s September–October crude acquisitions include one million barrels of Angola’s Girassol, one million barrels of U.S. Mars, three million barrels of Abu Dhabi Murban, and two million barrels from Nigeria. The buying spree follows India’s suspension of Russian crude purchases in late July, a move attributed to a delay urged by U.S. President Donald Trump.
Since Russia’s 2022 invasion of Ukraine, India had been among the few major buyers of discounted Russian oil, largely avoiding the global spot market. The latest switch opens the door for greater African and Middle Eastern supply to the South Asian market.
Nigeria’s rising exports to Asia reflect growing competition with Middle Eastern producers. Its low-sulfur crude is particularly suited for India’s refineries, which produce gasoline and diesel for domestic use and export.
However, industry analysts note an irony: while Nigeria ships millions of barrels to India, its own Dangote Oil Refinery is increasingly sourcing crude from the U.S., highlighting the complex realities of pricing, logistics, and refining needs in the global oil trade.