India's HPCL buys two million barrels of Nigerian crude for Rajasthan refinery

India's state-owned Hindustan Petroleum Corporation Limited (HPCL) has purchased two million barrels of crude oil from West Africa to supply its new refinery in the western state of Rajasthan, according to trade sources.

The cargoes were acquired through a tender from commodities trader Glencore and comprise Nigeria's Okwuibome and Utapate crude grades, Caliber.Az reports, citing British media.

The shipments are expected to arrive in late September, the sources said.

The price of the deal was not immediately known.

The crude has been purchased for HPCL Rajasthan Refinery Ltd (HRRL), which operates a 180,000-barrel-per-day refinery in Rajasthan. HPCL holds a 74% stake in the venture, while the Rajasthan state government owns the remaining 26%.

HPCL and Glencore do not typically comment on commercial trading activity.

By Aghakazim Guliyev