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With concerns over oil supply disruptions in the Gulf region amid the West Asia crisis, India's state-run refiners sourced crude oil from Nigeria to help diversify supplies.
Between March and May 2026, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) received nearly six million barrels of crude oil from Sterling Oil Exploration & Energy Production Company Limited (SEEPCO), a Nigeria-based oil producer led by entrepreneur Nitin Sandesara. The crude was produced from SEEPCO's Okwuibome field in Nigeria and shipped to India through Atlantic routes, avoiding the risks associated with the Strait of Hormuz, one of the world's most important oil transit corridors. The supplies provided Indian refiners with an alternative source of crude at a time when global energy markets were facing increased uncertainty due to geopolitical tensions and concerns over potential disruptions to oil shipments from the Gulf region. SEEPCO said the deliveries highlight the importance of diversified supply sources in maintaining energy security. The company also noted that the transaction marks its renewed engagement with India's public-sector refining companies. SEEPCO is an Indian-owned oil producer operating in Nigeria, an OPEC member country. The company supplies crude oil to international markets, including India, and says its operations support India's long-term goal of securing reliable and diversified energy supplies. Industry observers say the six-million-barrel shipment demonstrates the value of overseas production assets and long-term commercial partnerships in ensuring stable energy supplies during periods of global uncertainty. (ANI)
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