Nigeria’s daily crude oil exports to India has increased after loadings to China saw a plunge in recent times.
Reuters reported citing a survey of vessel fixtures and traders that Indian refineries booked the largest amount of West African oil per day in February since April 2015.
The purchases offset a steep drop in bpd-loadings of Nigeria, including 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) West African oil to India.
The volume was close to a three-year high on a barrel per day basis. While Essar bought a cargo of Dalia from Angola’s Sonangol, Reliance booked several ships to load Nigerian, Angolan and Congolese crude.
