New Delhi: Indian Oil Corporation (IOC) will meet Mauritius’ entire import requirement for motor spirit (MS), high-speed diesel (HSD) and aviation turbine fuel (ATF) under a new five-year agreement with the State Trading Corporation (STC) of Mauritius.

The agreement was signed in the presence of India’s Minister for Petroleum and Natural Gas Hardeep Singh Puri and Mauritius Prime Minister Navinchandra Ramgoolam during Puri’s two-day visit to the island nation beginning August 20.

“The five-year agreement between Indian Oil Corporation and STC is an assured long-term supply commitment to Mauritius, providing the country with security of supplies and shielding it from price volatility,” the Ministry of Petroleum and Natural Gas said in a statement.

The agreement is the first long-term supply deal in recent years involving an Indian public sector oil marketing company and a country outside South Asia. It makes India the anchor fuel supplier for Mauritius and expands India’s energy and economic presence in the Indian Ocean region.

India has emerged as a major refining hub, producing 267 million metric tonnes of refined petroleum products annually across 23 refineries. The country is a net exporter of refined petroleum products and already supplies Nepal and Bhutan, along with several other markets.

The petroleum ministry said India maintained its supply commitments to Nepal and Bhutan even during the West Asia crisis, highlighting its role as a reliable energy supplier in the region.

During his visit, Puri held bilateral meetings with Patrick Gervais Assirvaden, Minister of Energy and Public Utilities; John Michaël Tzoun Sao Yeung Sik Yuen, Minister of Commerce and Consumer Protection; and Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade.

Puri also attended the groundbreaking ceremony for Indian Oil (Mauritius) Ltd’s 27,500-metric-tonne bunker marine fuel storage facility at Mer Rouge in Port Louis.

BI Bureau