Michaël Sik Yuen: "Mauritius has sufficient fuel reserves"

Michaël Sik Yuen, the Minister of Commerce and Consumer Protection, stated in a press conference on May 6 at Ébène that Mauritius currently has sufficient fuel reserves to meet national demand. According to the figures provided, the current reserves equate to 49 days of gas consumption, 34 days of petrol, 39 days of diesel, 25 days of Jet A1 fuel, and 27 days of Marine Gas Oil. Fuel Oil stocks vary between 32 and 51 days, depending on the category. "Mauritius currently has enough fuel reserves to meet demand," the minister affirmed.

Sik Yuen noted that since the end of the government-to-government agreement with India in 2019, Mauritius has been sourcing fuel from international suppliers for its needs in petrol, diesel, Jet A1, Marine Gas Oil, and Heavy Fuel Oil.

Discussing challenges faced at the end of 2024, the minister explained that the company 2Rivers DMCC informed the State Trading Corporation (STC) that it would be unable to fulfill its contract after being sanctioned by British authorities. "The STC issued emergency tenders to ensure the continuity of the country's supply," he stressed.

The minister also addressed criticism surrounding the contract between the STC and the Central Electricity Board (CEB). He stated that the agreement signed in January 2023, valid until May 2026, "has been fully adhered to" and continues to govern the pricing mechanism between the two entities. Michael Sik Yuen emphasized that "the STC has never charged the CEB more than necessary."

On the international front, the minister pointed out that tensions in global markets and supply chain disruptions continue to impact the oil sector worldwide. He added that Mauritius is currently continuing its discussions with Indian authorities regarding future long-term supply agreements.