With Middle East crude becoming the world's most expensive oil and the Strait of Hormuz closure disrupting supply chains, India is aggressively diversifying its energy sources — turning to West African and Asia-Pacific suppliers to keep its refineries running amid the escalating US-Iran conflict.

State-owned Hindustan Petroleum Corporation Limited (HPCL) has purchased 2 million barrels of crude oil from Angola through a tender, according to a Reuters report. The company acquired 1 million barrels each of Clove and Cabinda grades from Exxon, priced at approximately $15 above Brent, for May delivery — earmarked for its 180,000-barrel-per-day Barmer Refinery in Rajasthan. In separate purchases, HPCL also bought 1 million barrels each of Forca Dos and Agbami grades from trader Totsa. India's largest refiner, Indian Oil Corporation, is also actively scouting West African crude supplies.

Brent crude futures have surpassed the previous all-time record of $147.50 per barrel set in 2008, driven by Middle East supply disruptions and the ongoing closure of the Strait of Hormuz. While Oman and Dubai benchmark prices eased marginally on Friday, the broader surge in Middle East crude has made Gulf oil prohibitively expensive for Asian refiners — forcing them to either seek alternatives or scale back production.

India, which previously sourced approximately 45 per cent of its oil and gas imports from the Middle East, is now actively building alternative supply corridors through West Africa and the Asia-Pacific region to reduce its strategic vulnerability to Hormuz disruptions.