First Independent Mena Newspaper
The global oil glut that has taken a toll on the budgets of many oil producing nations will persist into 2017, as oil supply is expected to continue outstripping demand, the International Energy Agency said in a recent report. The report argues that oil markets will take “a while longer” to rebalance in light of […]
Head of Libya’s Unified National Oil Corporation (NOC) Wednesday announced immediate exportation of the Libyan oil following capture of oil crescent by General Khalifa Haftar forces despite threats of sanctions by western powers supporting the Government of National Accord (GNA), reports say. chairman of the NOC Mustafa Sanalla visited Zueitina; one of four oil terminals […]
The U.S. Agency for International Development (USAID) has announced support for a research in Morocco on the integration of solar energy microgrid into ‘smart buildings’ in partnership with National Instruments. The Moroccan solar energy research is among the 49 final projects selected by the USAID Global Development Lab from over 650 worldwide scientific proposals. The […]
Morocco, host country of the 22nd UN conference on climate change (COP22), will fit its mosques with energy saving light bulbs, solar thermal water heaters and photovoltaic systems. The move dubbed “Green Mosques” is part of the North African strategy to encourage renewable energies. Six hundred “green mosques” are to be created in the country […]
After making a significant gas discovery in Tendrara, North Eastern Morocco, Sound Energy has pressed on with its second well in the license area. Lying only 1.6 kilometers away from its first TE-6 gas well in Tendrara, Sound Energy announced that works have started on the second TE-7 well with aim of prospecting gas volumes, […]
Qatar Petroleum has taken 30% participating interest from the share of Chevron Morocco Exploration Ltd in three deep-water offshore leases located 200 km to the North West of Agadir’s coast. This acquisition came following a deal signed last February and approved by the Moroccan government, said Telquel magazine. Under the agreement, Qatar Petroleum will acquire […]
Morocco’s oil and gas imports stood at 29.394 billion dirhams by July 2016 compared to 41.947 billion dirhams the same period last year, which is a significant 30% drop, Morocco’s exchange office said in its latest statistics. Yet, despite the drop in oil prices, Morocco’s commercial deficit deepened 7.5% as imports continue to exceed exports. […]
Libyan oil production is falling more sharply than expected, declining by 70 percent from pre-civil war levels due to continued instability and hostilities between armed groups. The situation has sparked serious concerns of Western powers. A joint statement issued by the French Government said five of its NATO allies have expressed concern about tensions near […]
Algeria and other OPEC members whose budget took a toll on the backdrop of the oil price plunge are expected to push for a production freeze during an OPEC informal meeting scheduled for late September in Algiers. OPEC has lined up an informal meeting on the sidelines of the International Energy Forum in Algeria in […]
A technical and economic feasibility study for the electric interconnection between Morocco and Potugal was launched on Monday in Rabat and Lisbon. This intercontinental electric link will be operational in 2020 following the presentation of the results of the feasibility studies by Rabat and Lisbon. The implementation of this undersea electric interconnectivity will place Morocco […]