• 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 Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply

15 seconds ago
in Business, Energy, Features, highlights, Home, home-news, latest News, Trade
1 min read
0 0
0
0
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Elon Musk is a Step Closer to Becoming a Trillionaire. Here’s a Look at His Rising Wealth

Gov’t to Proceed With MultiChoice Ghana Shutdown if Company Fails to Cut Prices by Close of Today

Hearts of Oak Clinch 2025 Democracy Cup with Narrow Victory Over Great Olympics

India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply

Indian Oil Corporation (IOC), India’s state-owned refining powerhouse, in the past few weeks modified its crude oil procurement strategy, avoiding barrels from the United States in favor of West African and Middle Eastern crude.

On Friday, trade sources revealed that IOC purchased two million barrels of West African crude and one million barrels of Middle Eastern grade, maintaining a pattern that reflects both geopolitical concerns and India’s realistic energy security goals.

The acquisitions included one million barrels of Nigeria’s Agbami and Usan oil grades from French energy firm TotalEnergies, as well as one million barrels of Abu Dhabi’s Das crude from Shell.

According to sources, the Nigerian cargoes were obtained free-on-board (FOB), and the Das crude was purchased delivered, with shipments likely to arrive in Indian ports between late October and early November.

This is hardly the first indication of India’s shift to West African oil; however, the option to forego US oil in the latest offer is a stark contrast to the previous week, when IOC purchased five million barrels of US West Texas Intermediate (WTI), as seen on Reuters.

Previous report on the oil trade between India and Nigeria

Just last month, reports surfaced that over two million barrels of Nigerian oil were scheduled to arrive in India between September and October 2025.

This shift is especially significant considering India’s status as a country that purchased a considerable amount of cheap Russian oil beginning in 2022.

Following Russia’s invasion of Ukraine, New Delhi took advantage of the chance to acquire oil at reduced prices, protecting itself from global energy price shocks while evading Western sanctions.

However, U.S. President Donald Trump’s recent campaign to reduce Moscow’s energy profits has caused Indian refiners to reduce their imports from Russia, with state-owned businesses stopping acquisitions since late July.

For oil-producing nations in Africa, this shift is a welcome development.

Nigeria and Angola, in particular, hope to profit from rising Indian demand, potentially stabilizing their own export income at a time when global competition for markets is severe.

Source: businessinsider
Via: norvanreports
Tags: India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape SupplyU.S. Crude for Nigerian Oil

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

Hearts of Oak Clinch 2025 Democracy Cup with Narrow Victory Over Great Olympics

Alcaraz Outclass Djokovic to Reach Men’s Final; Dabrowski and Gabriella Capture Women’s Double Title

Morocco Secures 2026 World Cup Spot; Egypt, South Africa Close in on Qualification

MultiChoice Ghana Agrees to Reduce Subscription Fees for DSTV, Given 14-day Deadline to Reveal New Prices

Ghana’s Sports Minister Urges Envoys to Promote Country as Investment Hub for Sports and Recreation

Ferrari 1-2 in Free Practice as Hamilton Tops Timesheet in Monza

Trending

Business

India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply

September 6, 2025

India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply Indian Oil Corporation (IOC),...

Elon Musk is a Step Closer to Becoming a Trillionaire. Here’s a Look at His Rising Wealth

September 6, 2025

Gov’t to Proceed With MultiChoice Ghana Shutdown if Company Fails to Cut Prices by Close of Today

September 6, 2025

Hearts of Oak Clinch 2025 Democracy Cup with Narrow Victory Over Great Olympics

September 6, 2025

Alcaraz Outclass Djokovic to Reach Men’s Final; Dabrowski and Gabriella Capture Women’s Double Title

September 6, 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.