Libya oil

Fitch Rating expects Moroccan banks profitability to improve in 2023

Fitch Rating highlighted the positive outlook for the seven largest Moroccan banks in 2023 whose profitability is set to improve on the back of a better risk management. “We expect profitability will improve at a faster pace in 2023 as lower impairment charges (LICs) should continue to decline while higher rates will start to feed […]

Libya: Operations onshore Sirte Basin transferred to new company

Operations onshore Libya’s Sirte Basin were transferred by Wintershall Aktiengesellschaft (WIAG) to Sarir Oil Operations (SOO), a newly established joint operating company with the National Oil Corporation (NOC). The transfer concerns operatorship of Contract Areas 91 (former Concession 96) and 107 (former Concession 97), wintershall said in a press release. After the signing of two […]

Morocco: King Sacks Minister of Economy & Finance

King Mohammed VI has sacked Minister of Economy and Finance Mohammed Boussaid. In accordance with the provisions of Article 47 of the Constitution, King Mohammed VI, after consulting the Head of Government, has decided to dismiss Mr. Mohammed Boussaid, as Minister of Economy and Finance, a statement from the Royal Office said Wednesday. The royal […]