Indian company to supply oil to Maldives

Managing Director of State Trading Organisation (STO) Adam Azim has said that an agreement has been reached with India’s Mangalore Refinery and Petrochemicals Limited regarding supplying oil to Maldives.

Azim told Sun Online, “99 percent of discussions in this regard have been completed. Now we’re working on administrative issues.”

He said that the company has agreed to supply oil to Maldives at a small freight, which means that the local price of oil will not increase.

Azim assured that Maldives will receive oil from India shortly, as soon as the administrative work is completed.