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Commodities

IOC Secures Five-Year Fuel Supply Deal with Mauritius

Guavy AI Editorial Team
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Oil
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The Indian Oil Corporation (IOC) has signed a five-year agreement with Mauritius to supply the island nation's entire import requirement of petrol, diesel, and aviation turbine fuel.

The long-term sales and purchase agreement between IOC and Mauritius' State Trading Corporation aims to provide assured supplies and reduce exposure to price volatility.

Indian Petroleum Minister Hardeep Singh Puri exchanged the agreement during his official visit to Mauritius on August 20-21, alongside a government-to-government memorandum of understanding (MoU) to expand cooperation in oil and gas.

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