First Independent Mena Newspaper
Oil and gas rich Nigeria has defeated Algeria and other competitors, after it was chosen as the host of the newly created Africa Energy Bank, worth $5 billion. In hosting the new lender, Nigeria will become “at the forefront of Africa’s energy future,” said Nigerian oil minister Heineken Lokpobiri. The new bank aims to address […]
Morocco’s research institute in renewable energies (IRSEN) and France’s SATT Paris-Saclay, which promotes technology transfer, in addition to the French Development Agency (AFD) signed in Rabat this week an agreement to support Franco-Moroccan applied research projects in the field of green hydrogen. Under this agreement, the AFD has donated €800,000 to this partnership that aims […]
French Total Energies said it plans to quit South Africa’s offshore gas fields to focus on more promising discoveries in Namibia, Bloomberg and Reuters reported. The company plans to give up its license for Block 11B/12B because it doubts whether the complex deep-water finds can be made commercially viable, given South Africa’s small gas market, […]
The European Bank for Reconstruction and Development (EBRD) on Tuesday reaffirmed its support for Morocco’s energy transition by providing a €13.6 million loan to PROCANEQ, a company set up in Morocco in 2016 to provide mining subcontracting services to OCP Group. The EBRD financing, meant to step up the sector’s green transition, will be used […]
Esso Exploration International Ltd., a subsidiary of U.S. ExxonMobil Corp., signed on Tuesday in Rabat two reconnaissance contracts with Morocco’s National Office of Hydrocarbons (ONHYM). These reconnaissance contracts cover the areas of Safi-Essaouira Offshore and Agadir-Ifni Offshore. The areas are located offshore the cities of Safi, Essaouira, Agadir and Sidi Ifni. The signing of these […]
Morocco and Germany signed a climate and energy alliance that includes cooperation in green hydrogen, to which Morocco attaches utmost importance in its energy diversification plans. The alliance was signed by Foreign minister Nasser Bourita and German Development Minister Svenja Schulze in Berlin. Hydrogen is key to Germany’s goal to reach carbon neutrality by 2045. […]
The OPEC Fund for International Development (the OPEC Fund) approved on Wednesday a $ 100 million loan to Morocco to enable the country to co-finance the first phase of the “Economic Governance & Climate Change Resilience Support Program”. To counter global economic and climate change challenges, the Moroccan government has set an ambitious program destined […]
Morocco was ranked the eighth largest recipient of financial flows in renewable energy at 6.2 billion dollars between 2010 and 2021, a new renewable energy agency report said. Most of these financial flows went to solar, followed by wind, said the report, to which the international energy agency also contributed along with the World Bank. […]
Chariot energy Company has signed an agreement with Vivo Energy Maroc firm on future natural gas offtake from the Loukos Onshore license in which the British company holds 75% stake, while Moroccan National Office of Hydrocarbons and Mines (ONHYM) has 25 %. In a press release issued Monday, Chariot said the aim of the agreement […]
Morocco’s biggest mining company, Managem, bought Sound Energy Morocco East Limited as it seeks to diversify into gas, the company said. Managem acquired 55% of the Tendrara concession, 47.5% of the Grand Tendrara Permit and 47.5% of Anoual Exploration. The transaction would help Managem contribute to the development of gas production in the country with […]