Maldives Requires Nearly 3 Million Barrels of Diesel Annually to Power Islands, Minister Says

The Maldives requires more than 2.9 million barrels of diesel annually to meet the energy demands of its inhabited islands, Tourism and Environment Minister Thoriq Ibrahim said today, underscoring the country’s heavy reliance on imported fuel.

Speaking at a press conference held at the President’s Office, the minister said daily diesel consumption stands at approximately 7,965 barrels, reflecting the scale of dependence on fossil fuels across the archipelago.

The Maldives’ energy sector remains almost entirely dependent on oil imports, with around MVR 10 billion spent on fuel last year alone, according to the minister. He further noted that the majority of inhabited islands, as well as resort and industrial islands, are powered by diesel generators.

Minister Thoriq said that installed electricity capacity in inhabited islands currently stands at 301 megawatts (MW), with nearly half concentrated in the Greater Malé region. Resort islands account for an additional 289 MW, while industrial islands contribute around 30 MW.

With over 150 new resorts currently in development, the minister noted that energy demand is expected to rise significantly in the coming years.

He added that multiple projects are underway to strengthen the country’s energy sector, including government-led initiatives, special economic zone (SEZ) developments, and private sector investments. These efforts, he highlighted, are aimed at reducing reliance on diesel and increasing the share of renewable energy.

However, the minister acknowledged that the Maldives currently lacks sufficient capacity to fully execute a large-scale transition to renewable energy, despite it being a national priority.

He stressed that reducing dependence on oil imports is critical for the country’s long-term energy security and economic stability.

Fuel Supply and Pricing

In remarks delivered at a press conference held yesterday, Finance Minister Moosa Zameer said the government is maintaining stable fuel supplies through ongoing imports from multiple sources, including Oman and Singapore.

He noted that the Maldives currently holds sufficient stocks of petrol and diesel to meet daily demand, with additional shipments scheduled to ensure continued supply in the coming months.

At present, petrol is sold at MVR 16.01 per litre, while diesel is priced at MVR 17.54 per litre through the State Trading Organisation.

Speaking to the press yesterday, Economic Minister Mohamed Saeed added that two additional fuel shipments were imported last week under existing supply agreements managed by the State Trading Organisation, which procures fuel based on national demand.