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Commodities

India's HPCL Snaps Up Nigerian Crude To Dodge The Hormuz Bottleneck

Oilprice.com · 1h ago · 🇮🇳 India

India's HPCL Snaps Up Nigerian Crude To Dodge The Hormuz Bottleneck

Indian state-owned refiner Hindustan Petroleum Corporation Limited (HPCL) has bought 2 million barrels of crude from Nigeria, trading sources told Reuters on Tuesday, as India looks to offset the loss of supply from the Middle East with deliveries from producers farther away. HPCL has acquired Okwuibome and Utapate crudes from Nigeria from commodity trader Glencore via a tender, the sources told Reuters. The Nigerian crude will go to feed HPCL’s refinery in the state of Rajasthan, HPCL Rajasthan Refinery Limited (HRRL), which has a capacity…

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