Morocco Exports 4.5% of Electricity Production

Morocco Exports 4.5% of Electricity Production
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Morocco Exports 4.5% of Electricity Production

Morocco Exports 4.5% of Electricity Production

Morocco has begun to promote its new image as a source of clean energy, by implementing mega projects to exploit wind and solar energy to generate electricity.

The Kingdom has become an exporter for electricity after being an importer, through the high-voltage lines linking Algeria and Spain.

During the first seven months of 2019, the value of its electricity exports increased by 916.5 percent, accounting for 4.5 percent of its electricity production, up from 0.6 percent in 2018.

Morocco’s domestic electricity consumption, in turn, rose by 0.7 percent after a 1.4 percent decline during the same period last year.

Electricity production during this period increased by 24.4 percent after a six percent increase over the same period last year due to a 47.2 percent increase in private sector production after 4.2 percent in 2018 when many projects had become fully operational.

In addition to that, a significant rise was seen in the production of projects developed under the law (13-09), which allows Moroccan companies from the private and public sectors to use renewable energies to produce electricity needed and sell the surplus locally or export it through contracts with industrial customers.

Electricity production increased by 59.3 percent in the first seven months of this year.

While the National Office for Electricity and Drinking Water’s (ONEE) production had seen a decline during this period by 22 percent.



Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024.  REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova
TT

Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024.  REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova

The global oil market is balanced thanks to the actions of OPEC+ countries and compliance with its quotas, Russian Deputy Prime Minister Alexander Novak said on Friday following a Russia-OPEC meeting.
OPEC+ countries, which are pumping around half the world's oil, are taking all necessary decisions to maintain market stability, Novak also said after meeting OPEC Secretary General Haitham Al Ghais in Moscow.
"Today, while discussing the situation and forecasts, we assess the current market as balanced. That's thanks primarily to the actions of OPEC+ countries and coordinated actions to comply with the quotas, voluntary commitments of OPEC+ count," Novak said.
The meeting comes as OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, prepares to meet on Dec.1.