First Independent Mena Newspaper
Morocco’s electricity utility ONEE said it expects the cost of buying energy to more than double to 47.7 billion dirhams this year, from 22 billion dirhams last year, because of a surge in prices of fuel and coal in the international market. Speaking to MPs, head of ONEE said that this surge was not reflected […]
Morocco’s spending on cooking gas, sugar and flour subsidies hit 10 billion dirhams ($1 bln) so far this year, compared with 3.8 billion dirhams the same period last year, official figures showed. This 170% increase is mainly due to the simultaneous post-covid recovery which created high demand on commodities, worsened by an offer shortage […]
Morocco’s stockpiles of diesel and cooking gas dropped to 26 days only, far below the 60 days required by law, energy minister Leila Benali said. Speaking to members of Parliament, energy minister Benali pointed to the difficult context marked by the impact of the war in Ukraine on commodities prices, including oil. Morocco consumed 11.2 […]
Italy’s ambassador to Libya Giuseppe Buccino indicated Tuesday that it is impossible to hold elections in the oil-rich African country whose running is being claimed by two rival administrations. Baccino made the remark during a round table organized by the Luiss University in Rome, Libya Update reports. “The situation on the ground is complex,” the […]
The Union of Oil and Gas Workers rejected on Saturday transferring the country’s revenues of oil exports to the government of Abdul Hamid Dbeibeh, Libya Update reports. The union’s reaction came following the request made by Head of the Audit Bureau, Khaled Shakshak, inviting the National Oil Corporation (NOC) to transfer oil revenues to Dbeibeh’s […]
Libya’s oil and gas Minister Mohammed Aoun has criticized western proposals to create an international mechanism to manage the country’s oil revenues amid rivalries between the ousted government of Prime Minister Abdul Hamid Dbeibeh and incoming Premier Fathi Bashagha. Aoun, who is under Dbeibeh’s leadership, made the remarks in an interview with Asharq Al-Awsat newspaper. […]
Italian Ecology Transition Minister Roberto Cingolani has indicated that Rome will conclude its first deal to obtain more gas from Libya and other suppliers, to replace Russian flows in the coming weeks. “A series of talks are underway … in the next few weeks, we will close the first agreements,” Cingolani said in an online […]
The British company, Chariot Oil & Gas Chariot, has announced that the new natural gas reservoir discovered in the Anchois well off Larache is of excellent quality. The Africa focused transitional energy company said the tests carried out on these field wells revealed that methane gas would be present at more than 96% in the […]
Algeria has recalled its ambassador from Spain after Madrid voiced support for Morocco’s territorial integrity and for the autonomy plan. Algiers has also said it will reassess all deals signed with Spain in a diplomatic escalation that shows the extent to which Algeria is involved as a real party to the Sahara conflict that it […]
The European Bank for Reconstruction and Development (EBRD) launched this week in Casablanca the Green Economy Financing Facility Morocco II (GEFF II), a credit line facility of €163.5 million. Green Economy Finance Facility Morocco II (GEFF II) is a €163 million financing line set up by the European Bank for Reconstruction and Development (EBRD) with […]