India ups its demand for Nigerian oil

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More cargoes of Nigerian crude oil are now heading for India on a daily basis after loadings to China witnessed a decline in recent times, Daily Trust reports.

Reuters cited a survey of vessel fixtures and traders which showed that Indian refineries booked the largest amount of West African oil per day in February since April 2015.

The purchases helped to offset a steep drop in bpd-loadings of Nigerian and Angolan crude for China, which fell to 1.22 million bpd from a record of 1.59 million bpd the previous month.

The survey showed that Indian refiners, Reliance and Essar, joined state-run Indian Oil Corp (IOC) in booking ships to ferry a total of 780,000 barrels per day (bpd) of West African oil to India.