Sandesara-owned SEEPCO supplied six million barrels to Indian refiners

India’s state-run refiners have secured nearly six million barrels of Nigerian crude oil to reduce dependence on Strait of Hormuz shipments, enhancing energy supply security amid geopolitical tensions.

Written by FE Bureau

June 15, 2026 19:37 IST

While six million barrels are unlikely to alter global energy flows, the shipments highlight the growing importance of diversified sourcing and overseas energy assets as India seeks to shield itself from recurring geopolitical shocks.

As tensions around the Strait of Hormuz continue to underscore the fragility of global energy supply chains, India’s state-run refiners have quietly secured an alternative source of crude oil far from the troubled Gulf waters.

Between March and May, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) received nearly six million barrels of crude from Nigeria-based Sterling Oil Exploration & Energy Production Company Limited (SEEPCO), an Indian-owned producer operating in Africa’s largest oil-exporting nation.

The deliveries assume significance at a time when uncertainty surrounding the Strait of Hormuz—a key artery for global oil trade—has once again rattled energy markets. The narrow waterway handles a substantial share of the world’s seaborne crude shipments, making any disruption a concern for major importers such as India, which depends on overseas suppliers for more than 85% of its oil needs.

Recent tensions in the region have highlighted the risks. Three Indian seafarers were reported dead off the coast of Oman this week, while thousands more remain deployed across Gulf shipping routes. Although hopes of a US-Iran understanding have eased immediate concerns and softened oil prices, questions over the long-term security of Hormuz remain unresolved.

Against this backdrop, crude sourced from Nigeria gains strategic relevance. Unlike Gulf-origin barrels, Nigerian crude reaches India via Atlantic shipping routes, avoiding Hormuz altogether. Industry observers say such diversification helps reduce exposure to geopolitical disruptions in West Asia and strengthens supply resilience during periods of market volatility.

The supplies also mark a notable return of SEEPCO to direct business with India’s public-sector refiners. The company, controlled by businessman Nitin Sandesara, has resumed active engagement with Indian buyers after legal proceedings involving him were concluded, clearing the way for renewed commercial operations.

Energy experts note that ownership of overseas oil assets can provide an additional layer of security beyond conventional import contracts. SEEPCO remains the only Indian-owned crude producer operating within an OPEC member country, giving India access to production that is not entirely dependent on external suppliers.

While six million barrels are unlikely to alter global energy flows, the shipments highlight the growing importance of diversified sourcing and overseas energy assets as India seeks to shield itself from recurring geopolitical shocks. As the Gulf remains vulnerable to periodic flare-ups, alternative supplies from regions such as Africa are increasingly being viewed as a strategic hedge against future disruptions.Nigeria crude cushions India against Hormuz supply risks

This article was first uploaded on June fifteen, twenty twenty-six, at thirty-seven minutes past seven in the evening.