Archive · 5 Sep 2025
Indian Oil Shifts Crude Oil Purchases from US to Other Regions
Indian Oil, an oil refiner in India, recently decided not to buy oil from the US.
Instead, they purchased oil from Nigeria and the Middle East.
They bought 2 million barrels from West Africa and a million barrels from the Middle East.
This is a change from their previous purchase of US oil.
They bought oil from TotalEnergy and Shell.
The reason for the switch is that the cost of US oil was higher.
Additionally, India's increased purchases of Russian oil has caused the US to double tariffs on Indian imports.
Indian Oil Corp. skipped US oil purchases in its latest tender.
The company bought 2 million barrels of West African oil and 1 million barrels of Middle Eastern oil.
Purchases included Nigerian oil from TotalEnergy and Abu Dhabi's Das crude from Shell.
Nigerian oil was bought on a free-on-board basis, and Das crude on a delivered basis.
Indian purchases from the US were impacted by trade imbalances and tariffs.
- Who
- Indian Oil Corp.
- What
- Skipped US crude purchases and bought Nigerian and Middle Eastern oil.
- When
- In its latest tender on or before September 5, 2025.
- Where
- Purchases from West Africa, Middle East, with delivery to Indian ports.
- Why
- Landed cost of US crude was higher than other grades.
- Buyer
- Indian Oil Corp
- Previous Purchase
- 5 million barrels of US WTI
- Recent Purchase
- 2 million barrels West African, 1 million barrels Middle Eastern
- Nigerian Oil Grades
- Agbami and Usan
- Seller of Nigerian Oil
- TotalEnergy
- Abu Dhabi Crude Seller
- Shell
- Delivery Timeframe
- Late October-Early November
- US Tariff
- Doubled to 50% on Indian imports