IOC five-year fuel pact – Bharat Pulse News

India and Mauritius have signed a five-year fuel supply agreement under which Indian Oil Corporation (IOC) will meet the island nation’s entire import requirement for petrol, diesel and aviation turbine fuel, significantly expanding bilateral energy cooperation. Indian Oil to Supply Mauritius Fuel Needs The long-term sales and purchase agreement was signed between IOC and Mauritius’ State Trading Corporation during Petroleum and Natural Gas Minister Hardeep Singh Puri’s official visit to Mauritius on August 20-21. Under the agreement, IOC will supply Mauritius’ complete import requirement for motor spirit, high-speed diesel and aviation turbine fuel. The arrangement is intended to provide greater continuity of supply and strengthen Mauritius’ energy security amid volatility in global fuel markets. The deal is also the first long-term fuel supply agreement of its kind concluded by an Indian public-sector oil marketing company outside South Asia in recent years. India Mauritius Expand Energy Cooperation Alongside the supply agreement, India and Mauritius exchanged a government-to-government memorandum of understanding covering wider cooperation in the oil and gas sector. The framework includes petroleum supplies, training, capacity building and cooperation in biofuels. India currently produces around 267 million tonnes of refined petroleum products annually across 23 refineries and is a net exporter of refined fuels. IOC Expands Mauritius Energy Infrastructure The two countries are also strengthening cooperation in fuel infrastructure. A groundbreaking ceremony was held for IndianOil Mauritius Ltd’s planned 27,500-tonne marine bunker fuel storage facility at Mer Rouge in Port Louis. India and Mauritius are additionally working on biofuel development, with Mauritius participating in the Global Biofuels Alliance and exploring policies aimed at expanding alternative fuels as part of its longer-term energy transition.

IOC to Meet Mauritius Fuel Needs for Five Years

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