Forage offshore Tarfaya

Arab Summit endorses Morocco’s bid for UN Security Council seat for 2028-2029 term

The 34th Arab Summit, held on Saturday in Baghdad, endorsed Morocco’s candidacy for a non-permanent seat on the UN Security Council for the 2028-2029 term. Baghdad Declaration adopted by the Summit urged all Arab League member states to mobilize all efforts in their outreach to friendly countries to secure support for Morocco’s bid. In their […]

Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”

Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]

Libya’s NOC and Global Partners Sign Unified Agreement to Boost Murzuq Basin Oil Operations

Libya’s National Oil Corporation (NOC) has signed on Wednesday, June 10, a unified operating agreement with international partners aimed at improving efficiency and coordination in the (I/R) field within the Murzuq Basin in southwestern Libya. The agreement involves partners in concessions NC115 and NC186, including Akakus Oil Operations, TotalEnergies, Repsol, Equinor and OMV. It seeks […]