First Independent Mena Newspaper
Aker Energy Ghana has reaffirmed its commitment to finding a solution that will allow for the commencement of a phased development of the Pecan field offshore Ghana. In March, Aker Energy announced that a final investment decision (FID) for the Pecan field development project had been placed on hold, postponing the project. While no […]
Algeria’s main source of revenue, oil and gas company Sonatrach, has seen troubles piling up as it struggles to juggle with historically low oil prices. The company, which accounts for more than 90% of Algeria’s exports, was dealt another blow with the cancelation of a supply contract with Spain’s Naturgy. Sonatrach will be obliged to […]
Morocco’s mining and hydrocarbons office ONHYM was tasked with overseeing the supply and the storing of oil after the Moroccan government’s request to rent the storage tanks of Samir refinery was approved by the commercial court. Morocco’s only refiner Samir in Mohammedia has been shutdown since 2015 due to unpaid debt to the state and […]
Morocco and Ethiopia are looking into ways of speeding up the implementation of the “Coalition for Access to Sustainable Energy”, an initiative launched by the two African countries during the Climate Action summit convened last year in New York. The initiative, which aims to ensure full access to energy for the least developed and other […]
The recent decision by the Moroccan state to rent the storage platforms of Samir refinery was seen by staff and analysts as a first step towards finding a solution to the plant that would lead to relaunching the refining activity in the country. Morocco’s only refiner Samir in Mohammedia has been shut down since 2015 […]
The World Bank has highlighted Morocco’s wind energy potential that it described as “great”. This came in a World Bank analysis of emerging markets for offshore wind, undertaken by the WB Energy Sector Management Assistance Program in partnership with the International Finance Corporation. The analysis, which focused on Morocco and a number of other countries, […]
The judge supervising the liquidation of the Samir refinery has accepted a state offer to rent its storage platforms in order to secure Morocco’s oil needs at a particular context of low prices. The oil storage crisis has sent oil prices plunging to below 5 dollars and prompting production cuts, which may gradually raise the […]
Morocco topped African and MENA region countries in the 2020 energy transition index published by the World Economic Forum. Morocco was ranked among the countries in the world that made a huge leap forward to promote energy transition thanks to “an increased level of political commitment and better access to capital and investment” in addition […]
A court in Lebanon has issued an arrest warrant against Chief of local Algerian oil company Sonatrach after the company has been accused of selling adulterated fuel and of corruption. Judge Nicolas Mansour, prosecutor of Mont-Liban court of appeal ordered the arrest of Tarek Faoual and several employees of Sonatrach Petroleum (SPC), a subsidiary of […]
Algeria’s state-run oil company Sonatrach and Russia’s Lukoil on Monday signed a Memorandum of Understanding (MoU) covering many cooperation areas including joint investment and production at home and abroad. Sonatrach said the agreement will enable both sides to identify joint investments in oil exploration and production in the North African country after the adoption of […]