First Independent Mena Newspaper
Sound Energy has confirmed that it has made a significant gas discovery in Tendrara, North Eastern Morocco. Sound Energy, which is a member of London’s junior market, said in a statement that the discovery took place in the first Tendrara Well TE-6 drilled to a measured vertical depth of 2,665 meters. The gas discovery was […]
The Moroccan parliament officially passed a law that changed the name of the Moroccan Agency for Solar Energy (MASEN) into the Moroccan Agency for Sustainable Energy and tasked it with the development of solar, wind and hydraulic energies along with any other source of renewable energies. The law is in line with Morocco’s commitment to […]
Danish manufacturer, Vestas, has confirmed an order to supply turbines to the 120MW khalladi wind farm in northern Morocco. The Danish wind energy giant announced that it had signed a firm and unconditional order with ACWA Power for 40 of its V90-3.0 MW wind turbines. The contract comprises the supply of the turbines and a […]
An Italian judge ordered Italian oil major Eni, oil services group Saipem and former Eni CEO Paolo Scaroni to stand trial in a long-running case of alleged bribery in Algeria “In relation to court proceeding for the alleged bribery case relating to Saipem’s activities in Algeria, Eni acknowledges that the new GUP (judge for the […]
Morocco’s state-owned phosphates company, OCP, is planning to open subsidiaries in 13 African countries in line with the Kingdom’s strategy to boost economic ties and investments in the continent. As announced in the official gazette, the OCP’s board of directors approved the decision to establish 13 subsidiaries in the countries of Côte d’Ivoire, Senegal, Cameroun, […]
The head of In Salah Gas announced Saturday a cut by 40 per cent in the number of foreign workers by the end of the year as a measure to shore up collapse of oil price and to reduce costs, reports say. In Salah Gas is a joint venture between national Sonatrach, British Petrolium (BP) […]
National Oil Corporation (NOC) chairman Mustafa Sanalla sent a letter to UN special envoy Martin Kobler warning him of the consequences of his meeting with “one of the most despised individuals” in Libya, Ibrahim Jadhran, ahead of announcing an agreement to open ports blockaded by Jadhran for almost 3years. A dismayed Sanalla discouraged Kobler from […]
French utility company, Engie SA, wants to sell its gas exploration units in Algeria as part of a larger plan to offer its assets in Africa and Europe in a bid to reduce its exposure to volatile oil and gas prices, Bloomberg reported. “The company is planning to sell its upstream operations globally including businesses […]
The fall in oil prices has taken a toll on Algeria’s foreign exchange reserves, which are expected to decline to $116 billion, Algria’s Prime Minister Abdelmalek Sellal said. At a context of a long-term slump in oil prices, the Algerian government is planning further cuts to curb spending over the next few years after the […]
Acwa Power Khalladi has completed final orders to suppliers and contractors, confirming that all financial conditions are met for the construction of a 1.2 MW wind power farm for a total cost of 1.7 billion dirhams ($173 million.) With this project, Acwa Power Khalladi, which is 75% owned by Saudi Arabia’s ACWA Power and 25% […]