Indian Refiners Pivot to West Africa to Bypass Middle East Chokepoints

Mangalore Refinery and Petrochemicals Limited recently finalized a deal for 1 million barrels of Omani crude from Mitsui & Co at a premium of $3 per barrel over Dated Brent. Simultaneously, the Indian Oil Corporation has secured 4 million barrels of West African grades—including Angola’s Nemba, Saxi Batuque, and Clov, alongside Congo’s Djeno—through a deal with Chevron.

Hindustan Petroleum Corporation Limited has also joined the shift, purchasing 2 million barrels of Nigerian Okwuibome and Utapate crudes from Glencore. While India has heavily increased its reliance on Russian oil, which accounted for over half of total imports in July, the persistent instability in the Middle East is driving state refiners to source supplies from as far as Venezuela and Angola to avoid vulnerable transit zones.