India and Mauritius Sign Five-Year Fuel Supply Deal as Energy Cooperation Expands

India and Mauritius have agreed to further enhance the country’s energy partnerships as Indian Oil Corporation Limited (IOCL) will be providing Mauritius total import requirements of petrol, diesel and aviation turbine fuel.  

The agreements were signed during the visit of Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas to Mauritius on August 20-21. 

IOCL Gets Five-Year Supply Agreement 

The long term SA for Motor Spirit, High Speed Diesel and Aviation Turbine Fuel comes at a time when IOCL is keen on boosting sales into Africa through its partnership with the State Trading Corporation (STC).  

The agreement has been inked to ensure that there was a reliable source of petroleum supplies for the island nation, with the government saying it would protect Mauritius from price volatility. 

The Government of Mauritius said, It’s worth noting this is just the first long-term supply agreement by an Indian PSU oil marketing company outside of South Asia in recent times. 

New Marine Fuel Facility Takes Shape 

In addition to this Puri took part in the groundbreaking ceremony for construction of a 27.5TMT bunker marine fuel storage facility at Mer Rouge in Port Louis which will be developed by India Oil (Mauritius) Ltd. 

Further under the India-Mauritius oil & gas MoU, the two countries have agreed on providing training, capacity building and cooperation on Biofuels. 

Biofuels Cooperation Gets a Push 

Mauritius is a founding member of the Global Biofuels Alliance, which has been piloted by India as part of the latter's efforts during its tenure as G20 President.

Both nations are now working towards creating a 'Biofuels Country Landscape Policy' framework. The document will be launched today (August 21) by Puri along with Mauritius’ Minister of Energy and Public Utilities Patrick Gervais Assirvaden. 

Read More: Government Reappoints Anand Mahindra and Appoints Somanath Panicker to RBI's Board! 

Conclusion 

India and Mauritius have signed a five-year fuel supply agreement under which IOCL will meet Mauritius' full import requirement for petrol, diesel and aviation turbine fuel. The partnership also covers oil and gas cooperation, marine fuel infrastructure and biofuels.  

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