Maldives spent MVR 10 billion on oil imports in 2025, minister says

Minister of Tourism and Environment Thoriq Ibrahim has stated that the Maldives requires 2.9 million barrels of oil annually to generate electricity across the country.

The minister made the remarks on Tuesday during a press briefing held at the President’s Office on developments in the energy sector.

He said the Maldives spent MVR 10 billion on oil imports in 2025, accounting for around 10 per cent of gross domestic product.

According to the minister, approximately 7,965 barrels of diesel are used each day to supply electricity to residential islands. A similar volume is required for resorts.

Thoriq also provided data on electricity generation capacity. Residential islands have a capacity of 310 megawatts, while resorts account for 298 megawatts. Industrial islands have a capacity of 30 megawatts.

He stated that the Maldives needs to reduce its reliance on oil and increase the use of renewable energy sources.

“There is a focus on increasing renewable energy,” the minister said.

He added that the government is investing in the sector and implementing projects to expand energy sources.