First Independent Mena Newspaper
Morocco’s oil and gas imports stood at 29.394 billion dirhams by July 2016 compared to 41.947 billion dirhams the same period last year, which is a significant 30% drop, Morocco’s exchange office said in its latest statistics. Yet, despite the drop in oil prices, Morocco’s commercial deficit deepened 7.5% as imports continue to exceed exports. […]
Nigeria’s President Muhammadu Buhari comment saying that his country has suddenly became a poor country, resounded in Algiers as an alarm bell on the repercussions of the plummeting oil prices. Like Algeria, Nigeria depends on oil whose prices crashed to 37 dollars a barrel, and in the best cases oscillate between 40 dollars and 45 […]
Canadian aviation industry giant, Bombarider is planning the relocation of parts of its production from its factories in Northern Ireland to Morocco and Mexico in a bid to cut costs. Bombardier, which employs around 5,000 staff in Belfast, confirmed the transfer of “certain activities” it said it was “unable to undertake competitively in Northern Ireland”, […]
Libyan oil production is falling more sharply than expected, declining by 70 percent from pre-civil war levels due to continued instability and hostilities between armed groups. The situation has sparked serious concerns of Western powers. A joint statement issued by the French Government said five of its NATO allies have expressed concern about tensions near […]
Algeria and other OPEC members whose budget took a toll on the backdrop of the oil price plunge are expected to push for a production freeze during an OPEC informal meeting scheduled for late September in Algiers. OPEC has lined up an informal meeting on the sidelines of the International Energy Forum in Algeria in […]
Algerian public company IMETAL specialized in metal work and steel industry took control on Sunday of shares of Indian giant ArcelorMittal in ArcelorMittal Algérie (AMA,) ArcelorMittal Pipes and Tubes Algeria (AMPTA) and ArcelorMittal Tebessa (AMT,) reports say. The deal has been in the pipeline since October last year. The Indian giant controlled 49 per cent […]
A technical and economic feasibility study for the electric interconnection between Morocco and Potugal was launched on Monday in Rabat and Lisbon. This intercontinental electric link will be operational in 2020 following the presentation of the results of the feasibility studies by Rabat and Lisbon. The implementation of this undersea electric interconnectivity will place Morocco […]
Sound Energy has confirmed that it has made a significant gas discovery in Tendrara, North Eastern Morocco. Sound Energy, which is a member of London’s junior market, said in a statement that the discovery took place in the first Tendrara Well TE-6 drilled to a measured vertical depth of 2,665 meters. The gas discovery was […]
Russia is set to expand its share in the arms markets by increasing sales to the North African states of Morocco and Tunisia besides its largest client in the region, Algeria, at a regional context marked by a surge of terrorist activities. “Military cooperation between Russia and Muslim countries, especially in North Africa, is building up. Morocco, […]
Algeria is Morocco’s first customer and supplier in Africa, despite the stalemate in political and diplomatic ties between the Maghreb’s two populous countries, which remain at loggerheads concerning a range of regional issues. A study issued by the OCP Policy Center, a policy oriented think tank based in Rabat, surprisingly showed that Algeria is Morocco’s […]