First Independent Mena Newspaper
In Libya, losses from the shutdown of major oil fields and terminals had surpassed $2bn, the National Oil Corporation of the war-torn nation said. Production has dropped from 1.2 million barrels a day before January to about 120,000 this week, the corporation said in a statement. The standoff over Libya’s main source of income has […]
The financing agreements for the first projects to be selected under “INNO ESPAMAROC ENERGY,” were signed in Rabat this week to give substance to the initiative, launched in December 2018, by Morocco and Spain in a bid to strengthen co-innovation through promoting scientific and technological cooperation, and exchanging knowledge in renewable energies and green technologies. […]
The Egyptian Ministry of Petroleum & Mineral Resources signed a new agreement with the Egyptian Holding Company for Natural Gases “EGAS” and the German company Wintershall Dea to search for and produce oil and natural gas in eastern Damanhur area in the Nile Delta with a minimum investment of $43 million and $11 million grants […]
Emirati on-demand petroleum product supplier, CAFU, will begin operations in Egypt under a Memorandum of Understanding with the Egyptian General Petroleum Corporation. The agreement will enable CAFU to launch fuel delivery services in Egypt in line with regulations and safety standards. Launched in the UAE in 2018, CAFU uses mobile app to provide service anytime […]
The International Islamic Trade Finance Corporation, IFTC, has allocated to Egypt $1.1 billion destined to fund the energy sector and internal trade in 2020, Egypt Today reports. Minister of Trade and Industry Nevine Gamea who made the announcement said $700 million of the funding will go to the energy sector, and $400 million to internal […]
Kamel Eddine Chikhi, Chief of state-owned energy firm Sonatrach, was sacked Wednesday only three months into the job. A presidential decree, relayed by state-run television ENTV, said Toufik Hakkar will take the helm of the energy company, which witnessed a cut into revenues last year and is in search of investors. Hakkar was […]
Nexans Maroc and ENGIE Services Maroc recently signed a 15-year contract for the design, construction, supply, upkeep and maintenance of a photovoltaic rooftop plant with a 2.5 MW installed capacity. This output of the installation, to cover an area of 13,000 m2, will supply nearly 22% of Nexans plant’s annual electricity needs and avoid the […]
The UK-based SDX energy announced a new discovery in north western Morocco, which, it said, is above pre-drill estimates. The company has encountered commercial quantities of gas in its OYF-2 well and confirmed the extension of its core area to the north, it said in a statement. The well, in which the company has 75% […]
The European Commission (EU) signed four guarantee agreements worth €216 million that will help unlock €2 billion to be invested in renewables, urban infrastructure and start-ups in Africa and the EU Neighborhood. The guarantees were signed with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the German KfW Group and […]
The consortium led by Moroccan energy company NAREVA and French ENGIE group won an international bid for the construction of 120 MWp solar power plant in Gafsa, Tunisia. The consortium will be responsible for developing, designing, financing, building, operating and maintaining the photovoltaic power plant over a period of 20 years from commissioning. The Gafsa […]