In a shock that is turning the rules of global oil on their head, Indian state refiners quietly turned to Nigerian crude, purchasing about one million barrels set to arrive in September. The shift followed mounting geopolitical pressure to wean away from Russia, as West African oils such as Nigeria’s premium-grade, deep-water Agbami saw heightened interest.
Back home in Nigeria, the nation’s pride refinery in Lekki—the giant complex built to render Nigeria fuel self-sufficient—has grown more and more reliant on US crude. In July alone, the refinery imported approximately 10 million barrels, with US oil constituting the majority of its feedstock even as policies are geared toward promoting local crude processing.
This emerging situation shows an ironic spin: while Nigeria looks overseas to serve its own energy needs, India is looking inwards to tap a country whose crown jewel refinery has higher priorities. It serves as a reminder that oil flow commerce doesn’t necessarily follow rationally—and can shift quite rapidly when politics, policy, or utilitarian thinking gets in the way.
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