India-Mauritius Fuel Deal: IOC to Supply All Imports

India and Mauritius have solidified their energy partnership with a new five-year agreement, under which Indian Oil Corporation (IOC) will supply the island nation’s entire import requirement for petrol, diesel, and aviation turbine fuel.

This long-term sales and purchase agreement, exchanged during Petroleum Minister Hardeep Singh Puri’s visit to Mauritius, aims to secure assured supplies and mitigate exposure to price volatility for Mauritius. It marks the first long-term supply agreement by an Indian public-sector oil marketing company outside South Asia in recent years.

Bolstering Energy Cooperation and Biofuels

The pact further includes a government-to-government Memorandum of Understanding (MoU) designed to expand cooperation across oil and gas sectors. This MoU covers petroleum product supplies, training initiatives, capacity building programs, and advancements in biofuels.

• Indian Oil (Mauritius) Ltd commenced a groundbreaking ceremony for a 27,500-tonne marine bunker fuel storage facility in Port Louis, poised to enhance Mauritius’s marine fuel infrastructure.
• Mauritius, a founding member of the India-piloted Global Biofuels Alliance, launched a Biofuels Country Landscape Policy framework, signaling its commitment to energy transition.

India, a significant refining hub and net exporter of refined fuels, is actively reinforcing its role as a reliable energy security partner within the Indian Ocean region. This strategic move comes amidst ongoing global market instabilities.

These comprehensive agreements establish a long-term energy partnership that extends beyond individual fuel shipments, encompassing supply security, infrastructure development, capacity building, and alternative fuels, aligning with India’s broader regional engagement.