India’s state-owned oil refiners are increasing crude oil purchases from Africa and the Middle East as the country gradually reduces its reliance on Russian supplies amid shifting global trade and geopolitical dynamics.
Industry sources say Indian Oil Corporation (IOC) recently bought about six million barrels of crude oil from West Africa and the Gulf region for delivery in April. The cargoes include Nigerian and Angolan crude grades, as well as oil produced in the United Arab Emirates.
The move marks a clear change in India’s import strategy. Traders say Indian refiners have largely avoided buying Russian crude for March and April loading, and this cautious approach is expected to continue as refiners diversify supply sources.
Alongside African and Middle Eastern purchases, India has also expanded its imports from Latin America.
IOC and Hindustan Petroleum Corporation Limited (HPCL) have jointly secured around two million barrels of Venezuelan Merey crude, scheduled to arrive at India’s east coast later in April. IOC will take the larger share of the shipment, while HPCL is importing Venezuelan crude for the first time.
Market sources note that Venezuelan crude is being sold at a discount to global benchmarks, making it attractive for Indian refineries capable of processing heavier oil grades.
Analysts say the shift reflects India’s broader effort to strengthen energy security and manage geopolitical risks. Russian oil has made up a significant portion of India’s imports in recent years, but refiners are now actively sourcing barrels from alternative markets.
The changes come as India and the United States continue talks on a potential trade framework. While New Delhi has not officially announced a halt to Russian oil imports, current buying patterns suggest a gradual reduction as India balances commercial needs with diplomatic considerations.
Energy experts expect Indian refiners to keep exploring supplies from Africa, the Middle East, and other regions as they respond to price movements and global political developments.
