India Oil Corporation Shuns US Crude, Buys 2m Barrels from Nigeria

*Country says it will get from places that suit its needs

Emmanuel Addeh in Abuja

Top Indian refiner, the Indian Oil Corporation (IOC) skipped the purchase of US crude oil in its latest tender and instead bought two million barrels from Nigeria and one million barrels of Middle Eastern grade, trade sources told Reuters.

Specifically, the state refiner bought one million barrels each of Nigerian oil grades Agbami and Usan from French oil major TotalEnergy, and another million barrels of Abu Dhabi’s Das crude from Shell, the report stated.
Nigerian oil has been bought on a free-on-board basis and Das’ has been purchased on a delivered basis for arrival at Indian ports in late October-early November. In its previous tender last week, IOC bought 5 million barrels of US West Texas Intermediate (WTI).

Nigeria’s crude oil output climbed to over 1.7 million barrels per day in July 2025, for the first time in about seven months. This represented a strong rebound from the 1.54 million bpd recorded in September 2024, a 16.6 per cent increase, and marked progress toward the country’s 2025 target of 2.06 million bpd budget benchmark.
The improvement comes on the back of tighter security in the Niger Delta, where oil theft had previously drained as much as 300,000 barrels per day. Fresh operations and surveillance have slashed those losses to fewer than 5,000 bpd, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

At the same time, rig activity has surged, with 46 rigs recently active compared to just eight in 2021. International oil companies are also renewing interest, with International Oil Companies (IOCs) operating in Nigeria planning to expand deepwater production.
Crude exports account for about two-thirds of government revenue and more than 80 per cent of foreign exchange inflows. Rising output offers a chance to ease fiscal pressures, strengthen foreign reserves and further stabilise the naira.

According to Reuters, in recent months, Indian refiners have taken advantage of a favourable arbitrage window and raised their purchase of US oil via tender. Their US oil purchases were also helping cut India’s massive trade surplus with the US, which has doubled the tariff on Indian imports to 50 per cent, citing New Delhi’s purchase of Russian oil.
But the report noted that the landing cost for US crude was high compared to other grades, despite the front-month Brent-WTI differential being about $4 per barrel, reason it may now be turning to Nigeria and the Middle East.
Also, India has said it will continue to buy Russian oil as long as it remains economical to do so, despite the Donald Trump administration’s decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.

Since Europe and the US shunned Russian oil over Moscow’s 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude, arguing that  its purchases of Russian oil have kept the markets in balance.

Trump, who is seeking to broker an end to the Ukraine conflict, has said India’s oil imports are helping fund Moscow’s war effort and imposed a 50 per cent tariff on imports from India last month.
India’s Finance Minister, Nirmala Sitharaman, speaking on local news channel CNN-News18, said India, the world’s third-biggest oil importer and consumer, had no plans to eschew Russian supplies, despite Donald Trump’s pressure.

“We will have to take a call which (supply source) suits us the best. So we will undoubtedly be buying it,” she said, adding that India spends most of its foreign exchange on purchases of crude oil and refined fuels.

US Commerce Secretary Howard Lutnick urged India on Friday to back the dollar, resume trade talks with Washington and stop buying Russian oil. “We’re always willing to talk. The Chinese sell to us. The Indians sell to us. They’re not going to be able to sell to each other. We are the consumer of the world,” Lutnick said in an interview.
In the fiscal year to March 2025, oil and refined fuels purchases from overseas accounted for about a quarter of India’s overall imports. “Whether it is Russian oil or anything else, it’s our decision to buy from the place which suits our needs whether in terms of rates, logistics, anything,” Sitharaman added.

Besides, US Treasury Secretary, Scott Bessent, has accused India of profiteering by importing Russian oil at lower prices and then reselling refined fuel at a higher rate.

The post India Oil Corporation Shuns US Crude, Buys 2m Barrels from Nigeria appeared first on THISDAYLIVE.

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    Linus Aleke in Abuja

    The leadership of the Nigeria Police Force has opted for silence despite a trending report alleging the theft of an official vehicle attached to the Department of Operations at the Force Headquarters, Louis Edet House, Abuja.

    Messages sent to the Force Spokesperson, CSP Benjamin Hundeyin, regarding the alleged car theft at the Force Headquarters were not responded to at the time of filing this report.

    However, the trending report revealed that a Toyota Buffalo Land Cruiser was stolen from the premises of the Force Headquarters in Abuja.

    Quoting an internal wireless message, the trending report stated that the Commissioner of Police (DFA, Katsina Command), relaying information from the Force Criminal Investigation Department (FCID), confirmed that the vehicle — with chassis number JTELU71JX0B027126 and registration number NPF 5594 D — went missing on 28 July 2025. It was reported missing after being removed from the official parking lot.

    Security operatives have been urged to treat the matter as very important and to report any leads that could aid recovery.

    Meanwhile, the Nigeria Police Force National Central Bureau (NCB) of Interpol, in furtherance of its steadfast commitment to international law enforcement cooperation, has arrested and handed over a notorious Beninese fugitive to authorities of the Republic of Benin.

    A statement by Force Spokesperson, CSP Benjamin Hundeyin, noted that Interpol Benin Republic had contacted Interpol Nigeria to arrest the fugitive in connection with a series of heinous crimes, including inter-border armed banditry, smuggling of firearms and ammunition, cattle rustling, and trafficking in illicit drugs.

    The investigation, he said, revealed that seven members of his syndicate are already standing trial in Benin Republic, while he absconded into Nigeria in a bid to evade justice.

    “Acting with precision and working on credible intelligence, operatives of the NPF NCB carried out a discreet operation that led to the arrest of the suspect in Idi Iroko Town, Ipokia Local Government Area of Ogun State. The fugitive was subsequently interrogated on his transnational criminal escapades and officially handed over to officials of NCB Cotonou,” Hundeyin said.

    The Inspector-General of Police, Kayode Egbetokun, while commending the officers whose doggedness and professionalism made this feat possible, reaffirmed the Nigeria Police Force’s resolute dedication to safeguarding the sovereignty of Nigeria, preserving the rule of law, and strengthening cooperation with international counterparts.

    He emphasised that Nigeria will never serve as a safe haven for fugitives or purveyors of crime, no matter how highly placed or deeply networked.

    The IGP further assured the Nigerian public, as well as the international community, of the Nigeria Police Force’s relentless pursuit of criminals, its steadfast partnership with global law enforcement agencies, and its firm commitment to ensuring peace, security, and justice for all.

    In a related development, Hundeyin said that the FCT Police Command seized 68 bags of cannabis and apprehended multiple drug dealers during operations.

    “This decisive action intensifies the fight against drug proliferation and substance abuse in the nation’s capital,” Hundeyin stated.

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    Linus Aleke in Abuja The leadership of the Nigeria Police Force has opted for silence despite a trending report alleging the theft of an official vehicle attached to the Department

    Enugu North LG Chairman Donates Security Patrol Vehicles to Wards

    Enugu North LG Chairman Donates Security Patrol Vehicles to Wards

    Gideon Arinze in Enugu

    As part of his administration’s commitment to bolster grassroots security, the Chairman of Enugu North Local Government Area of Enugu State, Dr. Ibenaku Onoh, has donated security patrol vehicles to various wards in the council.

    The LG boss made the donation, yesterday, during the monthly security meeting held at the Enugu North Local Government Secretariat, GRA, Enugu.

    Presenting the security vehicles to the Neighborhood Watch Patrol Squad and other security agencies, Onoh stated that it was part of his administration’s security enhancement strategy anchored on the reinforcement of local security architecture to safeguard both the lives and property of the residents.

    “By empowering patrol units with reliable mobility and essential security equipment, my administration is complementing the efforts of the State Government led by Dr. Peter Ndubuisi Mbah in the ongoing fight against crime across the state,” he said.

    He explained that beyond presenting patrol vehicles, his administration is also provided additional security equipment, intensive training programs focused on discipline, professionalism, human rights, and efficiency, and enhanced inter-agency collaboration, among others.

    He reminded the security operatives that their duty is to serve with integrity and humility, respect for human rights, while also maintaining close relationships with the police and allied agencies, while also assuring that his administration will donate more security operational vehicles to the remaining wards to ensure a comprehensive security coverage in the council.

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    Gideon Arinze in Enugu As part of his administration’s commitment to bolster grassroots security, the Chairman of Enugu North Local Government Area of Enugu State, Dr. Ibenaku Onoh, has donated

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