First Independent Mena Newspaper
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 […]
Sound Energy confirmed gas discoveries while drilling its third TE-8 gas well in the Tendrara license area in eastern Morocco. The news comes after the company announced recent success at the company’s first two Tendrara wells (TE-6 and TE-7). The UK-based company said that gas has been discovered at a depth of 2,643 in the […]
Russia’s oil firm Rosneft has signed cooperation framework agreement with Libya’s National Oil Corporation (NOC) opening the door wide to Russian investments as Moscow deepens its foray into the chaotic North African country. The agreement signed between Rosneft’s Igor Sechin and NOC’s Mustafa Sanalla in London on Monday allows the Russian company to explore Libya’s […]
Chariot Oil & Gas announced that it received a 75% stake of the Kenitra offshore exploration permit which together with the neighboring offshore exploration in Mohammedia could contain more than 1 billion barrel. The UK company said its subsidiary Chariot Oil & Gas Investment (Morocco) will carry out the exploration in partnership with Morocco’s Office […]
Qatar Petroleum (QP) said it will lead exploration projects of oil and gas in Morocco and Cyprus as it seeks to compensate for sluggish growth at home by expanding its liquefied natural gas (LNG) assets abroad. “You will see us going internationally with some of the partners we have in Qatar, this year and next […]
The sector of renewable energy could enable Morocco to create up to half a million jobs by 2040, according to a report issued by Mediterranean Forum of Institute of Economic Sciences. Most of these jobs are expected to be created from the Noor-Ouarzazate solar complex, which will host a number of projects based on different […]
Sound Energy has stricken a deal to acquire all of Oil & Gas Investment Fund’s (OGIF) assets in Eastern Morocco – that includes 20% Tendrara, 75% of the Meridja project and a 75% stake in acreage close to Tendrara. Sound Energy will thus acquire the OGIF’s hydrocarbon assets in eastern Morocco in exchange for 272m […]