First Independent Mena Newspaper
Moroccan firm, Nova Power, will build in Côte d’Ivoire a Photovoltaic power station with a total capacity of 25 megawatts for a total cost of 23.5 billion CFA francs, Local media said. The plant, to be built in Banguebogo, 570 km north of Abidjan, mirrors Cote D’Ivoire’s ambition to diversify energy sources through boosting the […]
The agreements signed between Morocco and Nigeria to build an offshore gas pipeline has effectively buried plans to achieve the Trans-Saharan Gas Project that was mulled in 2002 to bring Nigerian gas to the Mediterranean through Niger and Algeria. Former Algerian Interior Minister and ex-Ambassador, Abderrahmane Meziane Cherif bemoaned that his country has been outperformed […]
Protesters in the southern Kebili province have forced the closure of another oil pumping station as their claims for job opportunities gain momentum. The closing of the Faouar pumping station, operated by French Perenco company, has been confirmed by several media outlets in Tunisia. The closing was reportedly carried out peacefully, without any clashes with […]
Sound Energy, the African and European focused upstream gas company, announced that it will start commercializing the first gas from Sidi Mokhtar in Essaouira Basin, central Moroco, by the end of 2017. Sound Energy, which received authorization last year to explore Sidi Mokhtar License area covering 2,700 square kilometres, confirmed that two wells Koba-1 and […]
Moroccan Attijariwafa Bank, la Caisse Centrale de Garantie and le Groupe Crédit Agricole du Maroc are among the major African banks vying for the 2017 African Banker Awards in various categories. These Awards are hosted by the African Banker Magazine. The winners will be announced during a ceremony to be held during the Annual Meetings […]
UK Company SDX Energy Inc. said that its drilling campaign in Morocco remains on schedule for two exploration wells in the second half of 2017, as it has obtained extensions to its exploration permits. The company said the Lalla Mimouna Nord & Sud permits, covering an area of over 2211 km2 located in the Gharb […]
Libya’s National Oil Corporation (NOC) announced a deal with Morocco’s Banque Marocaine du Commerce Exterieur (BMCE) to attract new investors in a move defined as slap for the UN-backed Presidential Council. NOC head Mustafa Sanalla signed a Memorandum of Understanding (MoU) with BMCE’s Ibrahim Benjelloun Touimi in Vienna on Friday making the Moroccan bank one […]
Morocco has bolstered its leadership in renewable energies with the inauguration of the fourth and final stage of the Noor Solar plant complex in Ouarzazate with a 582 MW total capacity. King Mohammed VI launched works to achieve the fourth phase, which uses photovoltaic (PV) technology to produce electricity. The site will have a capacity […]
Sound Energy confirmed significant gas potential upon completing the drilling of its third gas well TE8 in the Tendrara license area in eastern Morocco, the company said. The well, drilled to a target depth of 3,120 meters, showed that the proven hydrocarbon system in Algeria spreads into Morocco, the company said in a statement. Sound […]
The consolidated revenues of Morocco’s state-run phosphates company, Office Chérifien de Phosphate (OCP), fell to 42.47 billion dirhams in 2016, compared to 47.73 billion dirhams in 2015. The OCP, the world’s leading phosphates exporter, imputed the drop to the slide in phosphate and fertilizer prices, prompting efforts to increase production and cut costs to counter […]