OIC

Moroccan Railways’ Net Profits hit 223 Million DH in 2016

Morocco’s state-owned railway operating company (ONCF) posted a net profit of 223 million Dirhams in 2016, up 31% compared to 2015. The company said in a statement that its turnover over the same period reached 3.7 billion DH with an added value of 2.5 billion DH and a self-sustainability of 273 million DH, 5.8% higher […]

Another Gas Discovery Offshore Mauritania

Oil & Gas exploration company Kosmos Energy has announced the discovery of a major gas discovery offshore Mauritania in the BirAllah area while conducting drilling in Orca-1 well.   Located approximately 125 kilometers offshore Mauritania, the well is estimated to have about 13 trillion cubic feet of gas.   Commenting this new gas discovery, Kosmos […]

Africa gets 85% of Morocco’s Foreign Direct Investments, AfDB

The African Development Bank (AfDB) commended Morocco’s commitment to economic development in Africa, saying that the Kingdom gears 85% of its foreign direct investments to the continent. In a statement issued following the visit of the AfDB President Akinwumi Adesina to Morocco last week, the Bank described the Kingdom as “one of AfDB’s best performing […]