The British oil and gas exploration and production company "Europa Oil & Gas" has decided to give up the extension of the Inezgane license located off the coast of Morocco. It cites "a difficult decision".
Through the Moroccan National Office of Hydrocarbons (ONHYM), Morocco has invested 275 million dirhams (25 million euros) in oil exploration between January and September.
Morocco and Spain are considering carrying out joint oil exploration off the Sahara, off the Canary Islands.
In order to boost the coastal shipping sector in a difficult context, Morocco has commissioned a large-capacity oil tanker from a South Korean company, which is expected to be delivered next year.
The Spanish Association of Oil Geologists and Geophysicists (AGGEP) assures that Morocco has not discovered oil deposits off Tarfaya, near the Canary Islands. According to it, it is "advertising" to attract investors in the hydrocarbon sector in Morocco.
Faced with the surge in fuel prices, the parliamentary group of the Party for Progress and Socialism (PPS) has made "concrete proposals" to the head of government, Aziz Akhannouch through a written question addressed to him.
Morocco could earn more than 100 billion euros, the equivalent of its current Gross Domestic Product (GDP), from oil exploration in Tarfaya, near the Canary Islands.
Morocco announced on Monday its plan to prospect for oil, gas and tellurium in the Tarfaya area, off the coast of Lanzarote and Fuerteventura in the Canary Islands. The news is worrying the Canarian authorities.
This Friday, service stations in Morocco have lowered fuel prices, following the drop in international prices. After reaching a record , the prices of gasoline and diesel have fallen back below 14 dirhams per liter.
The discontent of the members of the National Federation of Owners, Merchants and Managers of Service Stations in Morocco (FNPCGS) persists due to the soaring price of fuel at the pump and the lack of dialogue with the Ministry of Energy Transition. They threaten to strike if the government does not find solutions to the problems that, they say, are undermining their sector.
Faced with the rise in fuel prices, service station owners and managers in Morocco are calling in particular for the reactivation of refining within Samir or the use of the full storage and processing capacities of the Mohammedia refinery. On Thursday, diesel crossed the 14 dirham per liter mark, exceeding the price of unleaded gasoline. A first.
In response to the war launched in Ukraine by Russia, the United Kingdom, which has decided to do without Russian hydrocarbons by the end of 2022, can count on Morocco, which is willing to help it achieve its goal.