Indian Oil Signs Long-Term Deal To Supply Petrol, Diesel And Jet Fuel To Mauritius
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Indian Oil has signed a long-term fuel supply agreement with Mauritius covering products such as petrol, diesel and aviation turbine fuel. The two countries have also signed an MoU to expand cooperation in the oil and gas sector.
Mauritius and India have signed agreements to secure long-term supplies of petroleum products, giving the island nation a more direct source of fuel.
The agreements include a sales and purchase arrangement with state-owned Indian Oil Corporation (IOC) and a separate government-to-government memorandum of understanding (MoU) covering cooperation in the oil and gas sector.
Petroleum and Natural Gas Minister Hardeep Singh Puri visited Mauritius to conclude the agreements.
Indian Oil To Supply Key Fuels
Under the fuel supply arrangement, Indian Oil Corporation will supply refined petroleum products to Mauritius. These are expected to include petrol, diesel and aviation turbine fuel.
The deal gives Mauritius a long-term supply arrangement with an Indian public-sector oil company. The country depends heavily on imported petroleum products and is therefore exposed to changes in global crude and fuel prices.
The exact volumes and commercial terms of the agreement have not been disclosed.
Puri said Mauritius is the first country outside South Asia to enter into such a comprehensive fuel supply arrangement with an Indian public-sector oil company.
Mauritius Seeks More Stable Fuel Supply
Mauritius imports all of its refined petroleum products. Its annual fuel import bill is estimated at more than $1 billion.
The new agreement could help the country secure supplies with greater certainty at a time when global energy markets remain unsettled.
Shipping problems and unrest in West Asia have added another concern for countries that rely on overseas fuel supplies. Any disruption can push up freight costs and make deliveries less predictable.
India, Mauritius Expand Energy Cooperation
The second agreement is between the governments of India and Mauritius. It covers cooperation in the oil and gas sector and goes beyond the immediate fuel supply deal.
Mauritius is an important maritime partner for India. The latest agreements add an energy component to the broader relationship between the two countries.
For Indian Oil, the arrangement also opens a longer-term supply relationship in an overseas market. For Mauritius, it provides another route to secure essential fuels as global energy prices and shipping conditions remain uncertain.
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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