1 week ago
India, Mauritius Sign Five-Year Fuel Supply Agreement
India and Mauritius made a new five-year fuel agreement.
Indian Oil Corporation will provide Mauritius with the petrol, diesel and aviation fuel it needs to import.
Mauritius’ State Trading Corporation will be the other party to the agreement.
The deal was exchanged during Hardeep Singh Puri’s visit to Mauritius.
The two countries also agreed to work together more closely on oil and gas.
Their cooperation will include fuel supplies, training, capacity building and biofuels.
The long-term agreement is meant to help Mauritius receive fuel more reliably.
It may also help protect Mauritius from sudden changes in fuel prices.
Indian Oil Corporation will supply Mauritius with its full import requirement of petrol, diesel and aviation turbine fuel.
The agreement will run for five years and involve Mauritius’ State Trading Corporation.
It was exchanged during Petroleum Minister Hardeep Singh Puri’s August 20-21 visit to Mauritius.
A separate government-to-government memorandum expands cooperation in oil and gas, biofuels, training and capacity building.
The arrangement is intended to assure supplies and reduce Mauritius’ exposure to price volatility.
- Who
- Indian Oil Corporation, Mauritius’ State Trading Corporation, and the governments of India and Mauritius.
- What
- A five-year agreement for Indian Oil Corporation to supply Mauritius’ imported petrol, diesel and aviation turbine fuel, alongside a broader oil-and-gas cooperation memorandum.
- Where
- Mauritius, in the Indian Ocean.
- When
- The agreement was exchanged during Hardeep Singh Puri’s official visit on August 20-21; the supply agreement will last five years.
- Why
- To provide Mauritius with assured fuel supplies, reduce exposure to price volatility, and expand energy cooperation.
Key facts
- Supplier
- Indian Oil Corporation
- Mauritian partner
- State Trading Corporation
- Duration
- Five years
- Products
- Petrol, diesel and aviation turbine fuel
- Additional cooperation
- Oil and gas, petroleum product supplies, training, capacity building and biofuels
- Stated purpose
- Assured supplies and reduced exposure to price volatility
- Visit date
- August 20-21
Sources
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