Mauritius Strengthens Energy Ties with India via G2G Petroleum Deal
Mauritius plans to import petroleum products from India through a government-to-government arrangement, reviving a past collaboration. This initiative aims to secure a stable oil supply amid global disruptions, with potential payments in rupees. The move may impact Mauritius’ tourism and food sectors.
- Country:
- India
Mauritius is set to import petroleum products from India under a newly announced government-to-government arrangement, as revealed by Foreign Minister Dhananjay Ramful on Friday. This decision rekindles an old alliance involving the Mangalore oil refinery, which previously guaranteed a steady supply of affordable petrol.
The island nation, entirely reliant on imported petroleum, sees this deal as a strategic move amid global energy uncertainty, especially considering annual petroleum imports amount to around USD 1.3 billion. Ramful highlighted the possibility of transactions in rupees, enhancing the agreement's attractiveness for Mauritius.
With ongoing unrest in the Middle East potentially destabilizing oil prices, small economies like Mauritius face heightened vulnerability. The minister acknowledged broader implications for sectors like tourism and food supply while emphasizing strengthened maritime and AI collaboration with India.
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