Daily News  :: North Africa

Morocco's oil bill up 4% in 2006

Published: 04-JAN-07

RABAT � Morocco's oil bill rose to E2.1bn ($2.77bn) during the first 11 months of 2006, representing a 4 percent increase over the same period the previous year, an official source revealed.

The Moroccan Exchange Office noted on Tuesday that this increase was due mainly to the soaring oil prices on the international market.

It added that the volume of oil imports dropped by 13.6 percent to reach 5.7 million tonnes, pointing out that the average import price was estimated at E368.7 ($485.84) a ton, reflecting a 20.3 percent hike.

Morocco, deprived of energy resources, imports nearly all its oil products mainly from the Gulf countries.- Panapress

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