India Supplies Mauritius with Fuel Amid Global Market Volatility
Indian Oil Corporation (IOC) has signed a five-year agreement with Mauritius' State Trading Corporation (STC) to supply petrol, diesel, marine gas oil, and aviation turbine fuel to the island nation. The deal aims to provide Mauritius with greater supply certainty, price stability, and energy security amid disruptions linked to the West Asia conflict and Strait of Hormuz closure.
The agreement is part of a broader government-to-government memorandum of understanding between India and Mauritius on cooperation in the oil and gas sector. According to Petroleum and Natural Gas Minister Hardeep Singh Puri, the arrangement will support Mauritius' mobility and connectivity requirements while contributing to its wider economic growth.
India has emerged as a major global refining hub, with total refining capacity of around 258 million tonnes per year, making it the world's fourth-largest refiner. Indian refiners supply petroleum products to several neighbouring markets, including Bangladesh, Nepal, Bhutan, and the Maldives, while also exporting fuel to markets in Southeast Asia and Europe.
The government is looking to expand India's refining capacity further, targeting a national refining capacity of over 309 million tonnes annually by 2032. The Mauritius agreement comes as India seeks to deepen its position as a regional supplier of refined petroleum products while strengthening energy partnerships with countries facing exposure to global fuel-market disruptions.