Indian Oil Wins Tender for Fuel Exports to Mauritius
India’s state owned giant Indian Oil Corp. (IOCL) is about to win its first tender to export up to 720 KTPA of clean products to Mauritius under an annual deal starting November this year. The deal expects IOC to supply 205,00 tonnes of 95 RON Gasoline, 235,000 tonnes of 10 parts per million (ppm) gasoil, 175,000 tonnes of jet fuel, and about 105,000 tonnes of marine gasoil. Indian oil mostly keep itself distanced from participating in tenders for fuel exports as the refiner sells most of its fuel in the domestic market, besides supplying its retail outlets in Nepal and Bhutan. However, due to waning fuel demand due to COVID-19 led disruption and weaker margins, the company has been expanding its reach in the global markets. In May 2020, IOC also entered into its first contract to supply fuels to Bangladesh.