Oil Ministry has signed an energy security agreement

IOC: INDIA SIGNS LONG-TERM ENERGY SECURITY AGREEMENT WITH MAURITIUS

India has signed a long-term energy security agreement with Mauritius, strengthening bilateral energy cooperation and ensuring a reliable supply of essential petroleum products. Under the agreement, Indian Oil Corporation (IOC) will supply Mauritius’ entire import requirement of motor spirit (petrol), high-speed diesel and aviation turbine fuel (ATF). The arrangement provides Mauritius with assured long-term fuel supplies while giving IOC greater visibility on export demand. The agreement also strengthens India’s strategic energy partnership with Mauritius and supports IOC’s presence in the international fuel market. Impact: Positive for IOC — the long-term supply arrangement is expected to support export volumes, provide sustained demand visibility and strengthen IOC’s position in the Mauritius fuel market.