India has shown greater desire for crude oil from Nigeria and other West African countries.
The country’s appetite for the West African (WAF) crude has surged in recent months as one of the world’s biggest consumers of oil looks to shift its focus away from the Middle East.
India imported 2.45 million metric tonnes (mt) of crude oil in May from Nigeria, up 34.64 per cent year-on-year and a near five-fold jump from April, according to shipping data obtained by Platts.
India is the largest buyer of Nigerian crude, which is largely light and sweet, and fits the appetite of the Indian state refineries. Indian state-owned refiners like Indian Oil Corp, Bharat Petroleum Corp Limited and Hindustan Petroleum Corp Limited, and private refiner, Reliance, are all key and consistent buyers of Nigerian crudes like Qua Iboe, Bonny Light, EA Blend, Erha, Usan and Agbami.
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