India, Mauritius sign fuel supply pact, IOC to meet import requirement

India and Mauritius have deepened their energy partnership with a five-year agreement under which Indian Oil Corporation will supply the island nation's entire import requirement of petrol, diesel and aviation turbine fuel, strengthening New Delhi's role as a key energy-security partner in the Indian Ocean.

The agreement was exchanged during Petroleum Minister Hardeep Singh Puri's official visit to Mauritius on August 20-21, alongside a government-to-government memorandum of understanding (MoU) to expand cooperation in oil and gas, including petroleum product supplies, training and capacity building, and biofuels.

The long-term sales and purchase agreement between IOC and Mauritius' State Trading Corporation is designed to provide Mauritius with assured supplies and reduce its exposure to price volatility, an official statement said.

This, it said, was the first long-term supply agreement concluded by an Indian public-sector oil marketing company outside South Asia in recent ...