Indian Oil Corporation (IOC) has signed an agreement with the State Trading Corporation (STC) of Mauritius for the supply of petroleum products, under which IOC will meet the country’s entire import requirement of motor spirit (MS), high-speed diesel (HSD) and aviation turbine fuel (ATF).

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. Puri was on a two-day visit to Mauritius starting 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.

This is the first long-term supply agreement concluded by an Indian public sector undertaking (PSU) oil marketing company outside South Asia in recent years. The agreement positions India as the anchor fuel supplier to Mauritius and strengthens its strategic and economic footprint in the Indian Ocean region.

“India has emerged as a major global refining hub, with an annual output of 267 MMT of refined petroleum products across 23 refineries, making it a net exporter of refined products,” the petroleum ministry said.

It added that India already meets the petroleum demand of Nepal and Bhutan and supplies significant quantities to other countries in the region and beyond. Even during the West Asia crisis, India fulfilled its supply commitments to Nepal and Bhutan, making it a dependable energy security provider for the region.

During the visit, Puri also 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 participated in the groundbreaking ceremony of Indian Oil (Mauritius) Ltd’s 27.5 thousand metric tonne bunker marine fuel storage facility at Mer Rouge, Port Louis.