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Morocco: Chariot & Vivo Energy agree on terms of gas commercialization

Chariot energy Company has signed an agreement with Vivo Energy Maroc firm on future natural gas offtake from the Loukos Onshore license in which the British company holds 75% stake, while Moroccan National Office of Hydrocarbons and Mines (ONHYM) has 25 %. In a press release issued Monday, Chariot said the aim of the agreement […]

Morocco’s King calls for clear, consensus-based roadmap to implement next phase of advanced regionalization

King Mohammed VI called for speeding up the advanced regionalization process so that it can act as a lever for economic and social development and help address development challenges, unequal growth and regional disparities. In a message to participants at the 2nd National Conference on Advanced Regionalization held in Tangier December 20-21 , the King […]

Moody’s downgrades Egypt’s rating to ‘B3’

Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]