First Independent Mena Newspaper
Global spending on energy is expected to reach $3.3 trillion in 2025, marking an all-time high, according to the World Energy Investment 2025 report released earlier this week by the International Energy Agency (IEA). This figure represents a 10% rise compared to 2024. Out of this total, around $2.2 trillion, or 67%, will go toward […]
Egyptian engineering firm Petrojet has secured a $21.76 million contract to develop a liquefied petroleum gas (LPG) facility in Jordan, marking a significant step in its regional expansion strategy. This project aligns with Petrojet’s broader objective to enhance its presence in the Middle East, particularly in energy infrastructure development. The company has been actively pursuing […]
Africa, home to one-third of the world’s critical mineral reserves, stands at a crossroads: remain a source of raw exports or become a central player in the global energy transition. Despite abundant resources — including cobalt, lithium, copper, and rare earth elements — Africa received just 10.4% of global mineral exploration investment in 2024, down […]
Morocco has emerged as a key beneficiary of the Mirova Sustainable Land Fund 2 (MSLF2), a €363 million impact investment initiative targeting sustainable agricultural and forestry management across seven countries, reinforcing the Kingdom’s leadership in Africa’s ecological transition. The fund, launched by Mirova—a Natixis Investment Managers affiliate—with strategic support from the Green Climate Fund, addresses […]
Moroccan state-owned OCP Group and Italian SACE group have agreed to a €365 million green financing facility, the first of its kind under OCP’s Green Finance Framework and the first guaranteed by SACE Push Strategy in Morocco. This strategic partnership reinforces OCP’s commitment to sustainability and innovation in plant nutrition solutions. SACE, Italy’s insurance and […]
Oil-rich but war-torn Libya is teetering on the edge of a fuel supply crisis, with more than $1 billion in unpaid dues for imported fuel threatening to disrupt deliveries and deepen the country’s economic woes. The state-owned National Oil Corporation (NOC) has warned that international suppliers are growing increasingly reluctant to continue shipments without payment […]
Nearly 17,000 Brazilian tourists visited Morocco during the first four months of this year, said Moroccan National Tourism Office (ONMT), noting that this number represents a 48 % increase compared to same period of last year. In April, Brazilian tourist arrival spiked by 41% to reach 4,870 tourists against 3,465 in April 2024. Yet, inbound […]
Morocco’s National Office of Electricity and Potable Water (ONEE) has secured €300 million in financing from European institutions to modernize the country’s electrical infrastructure, marking a significant step in the kingdom’s renewable energy transition. The funding package combines €170 million from the European Investment Bank (EIB), €130 million from Germany’s KfW development bank, and support […]
The Moroccan government, electricity and water supplier ONEE together with a consortium including Mohammed VI Investment Fund, TAQA Morocco and Nareva agreed to join forces to develop a sweeping infrastructure program aimed at securing water and bolstering energy production by 2030, for a total investment cost estimated at $14 billion. The investments have been ushered […]
Morocco is establishing itself as a premier destination for solar energy investments in the Middle East and North Africa region, according to a new report by London-based research group Bourse & Bazaar. The study highlights significant funding from Gulf investors, including Saudi Arabia’s Public Investment Fund, Abu Dhabi’s Mubadala, and Dubai’s AMEA Power, who are […]