North Africa’s Economy
Algeria increases price of gas exported to France
Algerian state energy firm Sonatrach announced Thursday it had concluded a three-year deal with French group Engie on the price of gas it delivers through an undersea pipeline. Sonatrach and Engie reached "agreement in Algiers regarding the gas contract through the...
Morocco: Anger over soaring fuel prices
Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy tycoon Aziz Akhannouch act to protect consumers. Drivers in Morocco, which relies heavily on imported oil products whose prices have soared...
Energy: EU turns to Egypt and Israel for more natural gas
Israel and Egypt plan to boost gas exports to Europe under an agreement signed during a Cairo visit Wednesday by the European Commission president as the bloc seeks to wean itself off Russian gas. Ursula von der Leyen also pledged relief worth 100 million euros ($104...
Morocco facing a daunting economic outlook
By Ismail Bellaouali A withering drought and poor harvests plus price hikes fuelled by the war in Ukraine are threatening Morocco's fragile economic recovery and exposing structural weaknesses, experts say. The North African kingdom had bounced back last year after a...
Energy: More woes for the Algerian petroleum sector ($)
Algeria's energy sector is back in the spotlight as the country's stabilized its political system for now and strong global demand for petroleum product has pushed the barrel of oil above the $100 mark. While Algeria could play an important role in offsetting the...
Morocco: World’s biggest producer of cannabis inches closer to legalizing it
Morocco's national regulatory agency overseeing the use of cannabis for medical use met for the first time Thursday in one of the last steps before legalisation in the world's top cannabis-resin producer. The North African nation adopted a law in 2021 provisionally...
Energy: Morocco convinces Nigeria to move forward with gas pipeline to Europe
Nigeria's government has directed its state-run oil company NNPC to implement a deal on a gas pipeline to Europe through Morocco. Africa's gas resources are increasingly in the spotlight as the European Union looks to wean itself off Russian supplies following the...
In-Depth: Algeria’s gas sector facing internal woes and aggressive competition from Qatar
By Arezki Daoud: Algeria could have benefited from Russia’s war on Ukraine to maximize its revenue potential from exporting gas to a tense European market. But troubled by an unprecedented political crisis and a rocky presidential transition at home, Algeria’s leaders...
Egypt: Facing crippling economic crisis, Egypt says it will sell dozen state companies
Egyptian Prime Minister Mostafa Madbouli announced Sunday a string of planned privatisations of state-owned companies, as Cairo grapples with an economic crisis and inflation at almost 15 percent. Following years of accusations of state companies crowding out private...
From spikes in food prices to canceled flights, Russia’s war on Ukraine is hitting Africa hard
By Patrick Markey and Joel Olatunde Agoi From airlines in Nigeria to shoppers in Malawi, Africans are feeling the impact of the Ukraine crisis in wrenching increases in the price of fuel, grain and fertiliser. Global oil prices scaled decade-long highs of more than...