First Independent Mena Newspaper
Collapse of oil revenues and sharp increase in importations have caused a huge dent in Algeria’s foreign reserves with figures pointing at $58 billion loss since 2014; year of exceptional growth, the country’s Prime Minister said on Sunday. Prime Minister Abdelmalek Sellal at a tripartite meeting including government, worker’s syndicate and employers, indicated that Algeria […]
The American power and energy giant, General Electric, has decided to club together with Pan-African multi-sector business services company Mara Group to make more inroads in Africa through investment in infrastructure, a domain still infant on the black continent. General Electric plans to invest billions of dollars in Africa’s infrastructure business industry, which according to […]
Morocco has called on the international community to pool efforts to implement all the provisions of the Paris Agreement on climate change and expressed hope for increased global awareness as to the need to combat the phenomenon. The call was launched by King Mohammed VI in a speech delivered at the signing ceremony of the […]
Italian multinational oil and gas company Eni has sealed a Farm-Out Agreement with Chariot Oil & Gas, which enabled Eni to get operatorship and a 40 pc stake in the Rabat Deep Offshore exploration permits I-VI, Morocco’s offshore. The deal, which still needs approval of the Moroccan authorities, allows Eni to operate in an area […]
After the first plant of Noor-Ouarzazate solar complex in Morocco started operating few weeks ago, materializing the country’s efforts to boost renewable energy sources, reduce dependence on fossil fuels and become a green-power leader in the region and the world, neighboring Algeria unearthed its own renewable energy program. At a meeting Monday with some members […]
Morocco’s efforts to boost renewable energy sources, reduce dependence on fossil fuels and become a green-power leader took a step forward on Thursday with the entry into service of the first plant of Noor-Ouarzazate solar complex. The dedication of the Noor-I solar power plant was chaired by King Mohammed VI who also launched the construction […]
British Sound Energy has bought 25 pc stake in the Sidi Moktar project, which comprises three onshore gas permits in Morocco. The UK independent company has inked the £3.57 million deal with Maghreb Petroleum Exploration after initially agreeing the deal last October. The Sidi Moktar licences cover 2,700 square kilometres in the Essaouira basin, central […]
Moroccan Agency for Solar Energy (MASEN) has launched a new international tender for a large-scale solar power project, confirming the North African country’s resolve to become a green-power leader. The project will have a total installed capacity of 400 MW and will include systems based on solar photovoltaic as well as solar thermal power generation […]
The Egyptian government has obtained a German financial support for three power projects to be carried out under the supervision of German group Siemens, through their local partners Orascom Construction and El-Sewedy Electric. The three projects will cost $ 6.3 billion lent by Deutsche Bank, HSBC Germany and German Bank of Reconstruction (KfW). The loan […]
The European Bank for Reconstruction and Development (EBRD) has approved a US$ 200 million loan for the construction of a new 1.8 GW combined cycle gas-fired power plant in Damanhour, north west of Cairo. This loan will contribute to funding the US$ 1.3 billion total project cost, which is also being supported by the European […]