Mauritius Signs Long-Term Oil Deal with India

Overview

Mauritius announced on Thursday that it has entered into long‑term oil import agreements with the Government of India. The agreements were signed during a visit to Mauritius by India’s Oil Minister Hardeep Puri.

Agreements

The deals consist of (i) a government‑to‑government memorandum of understanding on oil and gas cooperation and (ii) a sales and purchase agreement with Indian Oil Corp Ltd (NSE:IOC). The sales and purchase agreement provides for the supply of petroleum products, specifically petrol, diesel and aviation fuel.

Commercial Terms

The Mauritian government did not disclose the volumes, pricing, or other commercial and financial terms of the arrangements.

Strategic Significance

Mauritius, which relies heavily on imported energy and whose economy has been affected by the Iran war, becomes the first country outside South Asia to conclude such an agreement with an Indian public‑sector oil company, according to Minister Puri.