Amanze Chinonye
India’s state-owned Hindustan Petroleum Corporation Limited (HPCL) has purchased two million barrels of Nigerian crude oil through a tender for its 180,000-barrel-per-day refinery in Rajasthan, according to trade sources.
The cargo comprises Nigeria’s Okwuibome and Utapate crude grades, which were supplied by global commodities trader Glencore and are scheduled for delivery in late September to HPCL Rajasthan Refinery Limited (HRRL).
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The purchase was made through a spot tender, representing a one-off transaction rather than a long-term supply agreement between HPCL and the supplier.
The acquisition reflects India’s continued efforts to diversify crude sources as refiners seek flexible supply options to support operations amid evolving global oil market dynamics. Nigerian crude grades, particularly newer streams such as Utapate, have gained interest among international buyers due to their quality and compatibility with several refining systems.
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HPCL did not disclose the financial terms of the transaction.
HRRL, which has a processing capacity of 180,000 barrels per day, is majority-owned by HPCL, which holds a 74 per cent stake, while the Rajasthan government owns the remaining 26 per cent.
The deal further highlights the role of Nigerian crude in global energy markets and the growing demand from Asian refiners seeking alternative sources of supply.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
