First Independent Mena Newspaper
Libya’s National Oil Corporation (NOC), in partnership with the Libyan Investment Authority (LIA), has signed an Exploration and Production Sharing Agreement (EPSA) with UCC Holding for Area 47 in the Ghadames Basin. NOC Chairman Masoud Suleiman said the agreement is part of efforts to attract investment, expand exploration activities and increase oil and gas production […]
The International Monetary Fund warned Algeria that its economy is weakening, urging authorities to tighten fiscal policy, avoid printing money to finance government deficits and stand ready to tighten monetary policy if inflation persists. The unusually stark warning came in the IMF’s 2026 Article IV consultation, which said rising oil and gas prices were helping […]
Libya’s Government of National Unity has established an emergency Committee to investigate the causes of persistent electricity outages and propose solutions to improve grid stability and ensure fair load shedding across regions. The decision was announced during a high-level meeting chaired by Minister of State for Prime Minister and Cabinet Affairs Mohammed Ben Ghalbon, with […]
The World Bank has approved $265 million to support construction of a new pumped hydropower storage plant in northern Morocco. This clean energy project, one of the landmark infrastructures in Africa, will provide affordable electricity, improve the resilience of the national grid and create jobs. The Ifahsa Pumped Hydropower Storage Project is designed to strengthen […]
The Mauritanian Government has decided to maintain the fuel oil subsidy at 70 MRO per litre, the Minister of Economic Affairs and Development, Abdallahi Ould Souleimane Ould Cheikh Sidiya, announced during a weekly press briefing. The subsidy is estimated to cost the State around 3.15 billion old ouguiyas per month, according to the minister. He […]
The largest floating photovoltaic plant in Africa has started operating in Morocco. The 13 MW floating PV plant uses flexible anchoring and flotation systems to remain stable across wide seasonal variations. Installed on the Oued Rmel Dam reservoir, near Ksar Sghir, in northern Morocco, close to the Tanger Med port complex, the facility is designed […]
Libya’s National Oil Corporation (NOC) has released on July 2 its June 2026 production and revenue figures, disclosing robust oil and gas output alongside significant financial inflows under its transparency and disclosure framework. Total crude oil production for the month reached 41,867,126 barrels, with 29,950,320 barrels allocated to the Libyan state and 10,909,540 barrels assigned […]
Morocco’s fuel market has recorded a second downward price adjustment in less than two weeks, as petroleum distributors applied a new round of reductions taking effect this Wednesday. The latest revision cuts diesel by 97 centimes per liter and petrol by 46 centimes per liter, building on a previous adjustment made on June 16, when […]
Nearly ten companies are currently active in Morocco’s oil and gas exploration sector, Energy Transition and Sustainable Development Minister Leïla Benali told the House of Representatives, noting the entry — for the first time — of Moroccan investors into the industry. During question time on the results of exploration activities, Benali said the companies operate […]
Morocco is moving ahead with a 6-billion-dirham ($600 million) investment program to expand fuel storage capacity and improve supply security, as authorities seek to strengthen the resilience of the country’s liberalized petroleum market despite the continued absence of domestic refining capacity. Energy Transition Minister Leila Benali told parliament on Monday that the program aims to […]