First Independent Mena Newspaper
The drop in oil prices has taken a heavy toll on Algeria’s budget revenues with the trade deficit expanding to 15.8 billion dollars as of October compared to 13.7 billion dollars the same period last year. By the end of October, Algeria’s export revenues slipped by 23.44% standing at 22.7 billion dollars propelling the government […]
After making a significant onshore gas discovery in Tendrara in Morocco’s north east, Sound Energy confirms the success of a second TE-7 gas well lying only 1.6 kilometres away from its TE-6 first well. “I am pleased to report the success of our second well at Tendrara and that the use of sub-horizontal drilling techniques […]
The London High Court ruled that the British Energy company, BP, pays $68.9 million to the National Bank of Abu Dhabi (NBAD) in a case originating from the sudden closure of Morocco’s Samir refinery in 2015. BP “sold a cargo of crude to Samir in August 2014 which was not paid for and NBAD took […]
As part of efforts to promote clean energy and reduce climate change, Morocco plans to use solid waste to generate electricity. In this regards, a memorandum of understanding was signed between engineering company Siemens and PEPS, a branch of the Imperium Holding industrial group, specialized in turning solid waste into electricity, in partnership with NST, […]
The Moroccan Agency for Solar Energy (MASEN) has selected Saudi Arabian power engineering firm ACWA Power and China’s Chint group to set up three solar plants with a total capacity of 70 megawatts as part of the Noor PVI project. With a combined capacity of 170MW, the three photovoltaic projects will help provide electricity with […]
Morocco and the World Bank Wednesday agreed during the finance summit of the UN conference on climate change (COP22) in Marrakech to launch the “Green Growth Infrastructure Facility for Africa” tasked to spur green economy on the African continent and pull together environment-friendly private and public investments. GGIF for Africa is first true green economy […]
Morocco is on track to becoming a player in the gas market following the successful drilling of the Tendrara wells, east of the country, which are expected to be pumping gas by 2019, said Interfaxenergy.com, a news outlet specialising in gas market. The same source said that the UK-based explorer Sound Energy sees promising prospects […]
Morocco, host country of COP22 in Marrakech November 7-18 and gate for investments in Africa, is busy working to encourage international financial institutions to support green banking markets in African continent. BMCE Bank of Africa has teamed with the European Bank for Reconstruction and Development (EBRD) and organized on Wednesday a conference in Casablanca to […]
Moroccan bank BMCE Bank of Africa and its leasing subsidiary Maghrebail received a €35 million loan granted by the European Bank for Reconstruction and Development (EBRD), Agence Française de Développement (AFD) and the European Investment Bank (EIB). The three financial institutions are teaming up to strengthen sustainable energy measures in Morocco, with the support of […]
Thanks to its largescale investments in renewable energy, Morocco is becoming a vanguard of solar revolution, US business channel CNBC said. “In North Africa, Morocco’s vast Noor Ouarzazate solar complex – one of the world’s largest – uses concentrated solar power (CSP) to produce clean energy,” said CNBC on its website. CNBC highlighted the efficiency […]