Egypt’s Suez Canal Bank to pull out of Middle East Oil Refinery

The publicly listed company, Suez Canal Bank, says it will withdraw entirely from Middle East Oil Refinery (Midor), Zawya reports. The operation will generate $30.4 million for Suez Canal Bank as 1.27 percent stake (560,000 shares) will be sold to Egyptian General Petroleum Corporation (EGPC) at $54.7 per share. The financial service institution posted a […]

European Parliament: EPP Group concerned over Algeria cutting gas supplies to Europe

The European People’s Party (EPP), one of the largest political groups in the European Parliament, has expressed deep concern over Algeria’s unilateral decision of stopping to supply Europe with gas through the Maghreb Europe gas pipeline (GME) that crosses Morocco. Algiers, which has cut off diplomatic ties with Rabat, stopped on Nov.1st supplying Spain and […]

Albares Response to Tebboune: Madrid’s Stand on Moroccan Sahara a ‘Sovereign Decision’

In a swift response to the statement made by the unpopular Algerian president Abdelmajid Tebboune criticizing Spanish support to Morocco’s autonomy plan for the Sahara, the Spanish foreign ministry hits backs affirming that its stand on the Sahara is a “sovereign decision”. By recognizing the autonomy plan presented by Morocco as the “most serious, realistic […]