Sources say that Indian refiners have been purchasing crude oil from the Middle East and West Africa.

date
05/08/2026
Three trade sources said on Wednesday that Indian refiner Mangalore Refinery and Petrochemicals Ltd. procured 1 million barrels of Oman crude oil through a tender. The sources stated that the purchase price for this batch of crude was about $3 per barrel higher than the Brent crude spot contract. One of the sources added that the seller was Mitsui & Co. Energy Trading Singapore. Additionally, the sources said that Indian Oil Corporation, India's largest refinery based on capacity, procured 4 million barrels of West African crude oil. Insiders revealed that the company had purchased Angola's Nemba, Saxi Batuque, and Clov crude oils, as well as Congo's Djeno crude oil from Chevron. Related companies typically do not comment on commercial transactions.