First Independent Mena Newspaper
The USA-Morocco Strategic Energy Working Group has convened its 2nd meeting in Washington to look into ways of boosting cooperation between the two countries in the field of energy. The gathering was hosted by the US Department of State Thursday (April 19). Deputy Assistant Secretary of State for Energy Diplomacy Sandra Oudkirk and Director General […]
The International Monetary Fund (IMF) urged Tunisia to cut fuel subsidies and trim its public-sector payroll in a bid to lower budget deficit. “It is necessary to reduce unfair energy subsidies through increases in domestic energy prices that follow international oil prices,” the IMF said in a statement. “The public-sector wage bill is very large […]
North Africa focused oil and gas company SDX Energy Inc announced that a gas discovery has been made at its SAH-2 well on the Sebou onshore permit in North-Western Morocco near the Atlantic city of Kenitra. The SAH-2 well was drilled to a total depth of 1,304 meters and encountered 5.2 meters of net conventional […]
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 […]