• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

India Ditches Russia for Africa’s Largest Oil Producer in Major Supply Shake-Up

3 weeks ago
in Business, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
28
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

India Ditches Russia for Africa’s Largest Oil Producer in Major Supply Shake-Up

India’s state refineries are increasingly relying on Nigerian crude oil to satisfy their supply requirements, signaling a significant change in global energy trading patterns.

More than two million barrels of Nigerian oil are projected to arrive in India between September and October 2025, as political pressure from the US forces the South Asian country to reduce its imports from Russia.

According to industry insiders, the Indian Oil Corporation (IOC) recently purchased one million barrels of Nigerian Agbami oil for September delivery through a tender awarded to the global trading firm Trafigura.

The move is part of a larger buying frenzy by Indian refiners, which have obtained millions of barrels from non-Russian sources in recent weeks.

Bharat Petroleum Corporation Limited (BPCL), India’s second-largest state refiner, also made spot purchases while negotiating for September deliveries, as seen in the Punch.

The South Asian market purchased one million barrels of Angola’s Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian crude for delivery in September and October.

This shift comes after Indian state refiners ceased purchases of Russian crude in late July, citing a delay advocated by US President Donald Trump.

Since Russia’s 2022 invasion of Ukraine, India has been one of the few big purchasers of cheap Russian oil, taking advantage of reduced costs while escaping the Western boycott.

This policy kept Indian refiners mostly out of the spot market for other suppliers, until recently.

Nigeria’s acquisitions signal an increase in sales to Asia, a sector long dominated by Middle Eastern oil producers.

Nigerian crude grades, recognized for their low sulfur content, are ideal for India’s refineries, which generate vast amounts of gasoline and diesel for domestic and export markets.

However, the development comes with a twist, which industry analysts refer to as oil trade irony.

Even though Nigeria sells millions of barrels of petroleum to India, the Dangote Oil Refinery, Africa’s largest refinery, located within Nigeria, is increasingly purchasing crude from the US.

This contradiction highlights the oil trade’s complicated realities, which frequently prioritize pricing, supply logistics, and refining demands above geographical proximity or local production potential.

Source: businessinsider
Via: norvanreports
Tags: India Ditches Russia for Africa’s Largest Oil Producer in Major Supply Shake-Up

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

US Open: Osaka, Alcaraz, Djokovic Shine as Gauff Joins Them in Last 16

Morocco Beat Madagascar to Secure Historic Third CHAN Title

$41bn Reserves vs Empty Pockets: When Will Relief Come For Nigerians?

Africa Emerges as Manufacturing Haven Amid US–India Trade Tensions

Trending

Aviation

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

August 31, 2025

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA African airlines saw...

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

August 31, 2025

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

August 31, 2025

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

August 31, 2025

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

August 31, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.