$1.5 billion spent on Moroccan oil imports
Market sources reported that Morocco spent 21 billion Moroccan dirhams ($1.5 billion) on crude oil imports in the year 2000. Of this figure, $1.5 billion was imported from Iran, Saudi Arabia and Iraq.
Last year, the American-Moroccan Lone Star Energy Company discovered oil for the first time off Moroccan shores.
It estimated Moroccan oil reserves at 1.5 to two billion barrels in the Talsent region, and 12 billion barrels off the country’s Atlantic coast.
The discovery is expected to greatly reduce expenditures on oil imports in the future. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
- UAE spent US$ 2.89 billion on imports from Turkey, while exporting goods worth $ 291 million
- Morocco’s oil imports drop by 14.5 percent in 1H 2002
- Lebanon spent more then $1 billion on its energy imports
- With $2.46 TRILLION to be spent on oil, gas, and water projects, what will the future Middle East look like?