NEW DELHI, Aug 4 – India’s Hindustan Petroleum Corporation (HPCL) has purchased 2 million barrels of Nigerian crude oil through a tender to supply its Rajasthan refinery, underscoring continued Asian demand for West African crude.
According to Reuters, citing trade sources, HPCL acquired Nigeria’s Okwuibome and Utapate crude grades from commodities trader Glencore. The cargoes are scheduled to arrive in late September for processing at HPCL Rajasthan Refinery Ltd (HRRL), which has a refining capacity of 180,000 barrels per day.
The financial terms of the transaction were not disclosed. Neither HPCL nor Glencore typically comment on commercial trading activities.
HPCL owns a 74% stake in HRRL, while the Rajasthan state government holds the remaining 26%.
The purchase highlights the continued competitiveness of Nigerian crude in international markets, particularly as Asian refiners diversify supply sources and optimize feedstock procurement. For Nigeria, the deal reinforces its position as a key supplier of crude oil to one of the world’s largest energy-consuming regions.
