First Independent Mena Newspaper
China’s largest oil and gas producer and distributor, PetroChina has signed up with the Libyan National Oil Corporation (NOC) to buy Libyan oil, few months after Shell and British Petroleum (BP) signed similar deals. The deal is the first ever since 2013, Bloomberg reports. The deal comes as oil production knows a revival following several […]
Tunisia will invest about $ 5 billion (12 billion dinars) in electricity and energy projects, between 2018 and 2020. According to a statement released by the government, the electrical projects include the construction of a submarine power- transmission line, with a transmission capacity of 600 MW. The infrastructure to link the country to Italy is […]
The US Treasury has imposed new sanctions, including asset freeze, on several entities and individuals from Libya, Egypt and Malta believed involved in the smuggling of Libyan oil. The new sanctions from the Treasury’s Office of Foreign Assets Control (OFAC) have targeted six people, twenty-four companies and seven vessels. Assets belonging to targeted individuals and […]
Israeli Delek Drilling company announced that it signed a $15 billion agreement to export gas to Egypt, a deal described as most significant since 1979. The agreement reflects the deepening strategic ties between the two countries as well as Cairo’s ambitions to become a regional energy hub. Israeli Prime Minister Benjamin Netanyahu welcomed the agreement […]
Morocco’s Energy Ministry delivered permits to Voltalia to build two hydropower plants of respectively 9.8 MW and 7.2 MW in the Middle-Atlas region. “These permits follow positive technical approvals delivered by the National Bureau for Electricity and Drinking Water regarding the connection of the plants to the national grid,” said the French company in a […]
Sound Energy, the Morocco focused upstream gas company, has expanded its activities in Morocco with the signing of an 8-year petroleum agreement covering a large area extending across and beyond the permits that were formerly known as the Sidi Mokhtar, in Essaouira basin The agreement was signed with Morocco’s state regulator for petroleum operations, ONHYM, […]
Battered by the oil price slump, Algeria will abolish gasoline subsidies in 2019 as it continues to implement time-buying measures, including import restrictions and money printing. Finance Minister Abderrahmane Raouia confirmed the news to reporters saying that his government plans to undertake a subsidy reform in a bid to reduce the soaring budget deficit as […]
The Polisario and its supporters in Spain have suffered a new setback after the Spanish Foreign Minister acknowledged Morocco’s legitimate right to explore gas and oil in its territorial waters. Far-left party, Podemos, which supports separatism in the Sahara, has tried to instigate the Spanish government against Morocco’s oil and gas explorations offshore Tan Tan, […]
Morocco has signed an onshore oil and gas exploration deal with Royal Dutch Shell and Spain’s Repsol covering the region of Souss Massa. The explorations will be carried out at an onshore site in the southern region of Souss-Massa, which covers an area of 9,990 square km, Morocco’s National Office for Hydrocarbons and Mining (ONHYM) […]
Investments in oil and gas explorations onshore and offshore Morocco since 2015 have totaled $2.8 billion (25 billion dirhams), 96% of which was paid by partners of the Moroccan hydrocarbons and mining office. Speaking at a meeting of the board of directors of the office, the Moroccan government chief said that the increasing oil and […]