
Moroccan Fuel Prices Set to Spike Amid Global Oil Market Pressures
Fuel prices at the pump could rise as early as this Thursday in Morocco. A surge due, according to industry professionals, to the rise in international oil prices.

Fuel prices at the pump could rise as early as this Thursday in Morocco. A surge due, according to industry professionals, to the rise in international oil prices.

The oil and gas company Predator Oil & Gas, holder of the onshore oil and gas exploration license in northeastern Morocco, is initiating the first stage of the process focused on the evaluation of specific sands within the broader Ma and TGB 2 intervals in MOU-1 and MOU-3.

While global crude oil prices are falling, prices at Moroccan service stations are rising and holding steady. A situation that concerns Houssine El Yamani, secretary general of the National Union of Oil and Gas Industries under the CDT, who calls for an overhaul of the oil regulatory framework in Morocco.

Following the referral on June 23, 2023 by the general rapporteur, the Competition Council imposed a large fine on the nine companies supplying, storing and distributing diesel and gasoline, involved in anti-competitive practices in the hydrocarbons market.

Morocco still shows interest in Russian diesel. Once again, the kingdom is among the largest importers of the Russian oil product.

Morocco is among the largest importers of Russian diesel in August. This is revealed by data from negotiations and Refinitiv Eikon.

Morocco is the fourth largest importer of Russian diesel in the last two weeks of August. This is revealed by data from negotiations and Refinitiv Eikon.

Chariot Limited announced on Tuesday the signing of an oil agreement with Morocco for a new onshore exploration license in Loukkos, off Larache.

The CEO of the Nigerian National Petroleum Company (NNPC), Malam Mele Kyari, partner of the National Office of Hydrocarbons and Mines (ONHYM) in the construction of the Morocco-Nigeria gas pipeline, announced an investment of $12.5 billion, or 50% of the total cost of the project, to accelerate its implementation.

Foreign Minister José Manuel Albares has assured that he is "closely following" information regarding possible Moroccan prospecting in the waters near the Canary Islands.

After a lull, the prices of the various fuels are rising again in several service stations in the kingdom. Moroccans will pay dearly to obtain diesel and gasoil.

The oil and gas exploration company NewMed Energy intends to invest in natural gas exploration in the Moroccan Sahara.