W.Africa Crude - HPCL buys more WAF

Hindustan Petroleum

06/08/2026 18:05

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LONDON, Aug 6 (Reuters) - India's Hindustan Petroleum (HPCL) bought West African crude for September in a tender, while a cargo of Qua Iboe traded in the spot market according to trade sources. 
HPCL bought at least two million barrels of West African crude for September delivery, buying Forcados and Bonga from Shell, two traders said. A third trader said Shell also supplied HPCL a Bonny Light cargo. All of the cargoes were 1 million barrels each.
Indian refiners have been snapping up West African cargoes this week. IOC bought Congolese Djeno and Angolan Nemba, Saxi Batuque and Clov grades on Tuesday, while HPCL bought 2 million barrels of Nigeria's Okwuibome and Utapate crude for its Rajasthan refinery. 
In the West African spot market, a cargo of Qua Iboe traded at dated Brent plus $5.50, a trade source said.
Bonny Light was on offer in the spot market at dated Brent plus $6.00 FOB, another trader told Reuters.
In upstream news, Nigeria's upstream oil regulator expects at least 22 offshore projects to start production by 2030, with potential investment of up to $50 billion, as Africa's top oil producer pushes to boost oil and gas output and attract new capital.

 (Reporting by Robert Harvey; Editing by Joyjeet Das)
 ((robert.harvey@thomsonreuters.com))