First Independent Mena Newspaper
Algerian authorities are alarmed by the rising bill of refined products, which hit $2.5 billion in 2017 up from 800 million in 2016 due to a surge in domestic demand and lack of national refining industry. As Algeria feels the heat of an economic and financial crisis propelled by the oil price plunge, the country […]
British Petroleum and its sister Dutch Shell have inked deals with the Libyan National Oil Corporation (NOC) to buy ship-ments of Libyan oil, Libya Herald reports Friday. The media said it received confirmation from the NOC that both European firms have signed deals to buy the Libyan oil. Shell, according to Bloomberg, which has been […]
Morocco, which imports most of its energy needs, is planning to build a $4.6 billion natural gas plant, part of its strategy to enhance its energy mix and autonomy. This project has been announced by the Moroccan Energy Minister Aziz Rabbah in Abu Dhabi, on the sidelines of his participation in the 8th session of […]
Abu Dhabi’s renewable energy company Masdar announced on Sunday that it has completed a landmark off-grid solar power project, supplying energy to 19,438 households in more than 1,000 rural villages in Morocco. The announcement was made Sunday on the sidelines of the 8th session of the International Renewable Energy Agency (IRENA) held in Abu Dhabi […]
Morocco has awarded French VINCI Construction company a €284 million contract for building a pumped storage hydroelectric plant (PSP), located 70 km from Agadir. The project is part of the North African Kingdom’s plan to develop and integrate renewable energies. The contract covers construction surveys, civil engineering works, supply of materials and pumping equipment, assembly, […]
UK-based SDX Energy has decided to abandon the ELQ-1 well in the Gharb Center permit, northwestern Morocco, after failing to achieve desired results from a drilling campaign. Drilled to a total depth of 1,484m, the well has encountered 22.6 net meters of reservoir interval and two meters of marginal net conventional gas pay in the […]
Libya managed to reduce its budget deficit in 2017 thanks to a sharp rise in oil revenues totaling $14 billion, the Libyan Central Bank said. The exponential increase in oil revenues up from $4.8 billion in 2016 is still much below the $50 billion registered in Libya before the fall of Gaddafi’s rule. The Central […]
US Africa Command has warned against a terrorist plot being prepared by ISIS militants against Libya’s Oil Crescent, which is located 500 km east of the capital Tripoli, and includes the country’s largest oil reserves and export terminals. In a statement to Asharq Al-Awsat, AFRICOM spokeswoman Robyn Mack said: “at the moment, we believe that […]
Currently at loggerheads with Sudan, Egypt is seeking to sideline it from talks over Ethiopia’s Renaissance Dam on the Nile, the largest hydroelectric dam project in Africa, Addis Fortune newspaper reported. According to the paper, President Abdel Fattah el-Sisi has suggested to Ethiopia’s Prime Minister Hailemariam Desalegn, that talks proceed with Ethiopia alone. “Egypt, in […]
Reports of a pipeline explosion in Libya sent oil prices soaring to $60 a barrel, that is a two-and-a-half year highs. The blast reportedly sidelined 90,000 barrels a day of supply in a country that produced 973,000 barrels a day in Novem-ber. A Libyan military source said earlier that armed men had planted explosives at […]