Morocco Struggles to Control Oil Reserves as Industry Resists Government Measures

According to the International Energy Agency, cited by El Massae, the incentive measures introduced by the government on material and fiscal levels have failed to persuade the professionals in the fuel sector to respect their commitments regarding the guarantee of a reserve stock, consequently exposing the country to the risks related to the fluctuation of the foreign market.

The agency notably blames Morocco for its inability to control its oil reserves, which makes it vulnerable to the risks of depreciation of stock levels, which remain below the authorized thresholds, and also to its dependence on the international market, especially since the country imports more than 90% of its petroleum product needs.

The agency also points to the negative impact of the closure of the La Samir refineries, and urges the government to think about better ensuring its energy security, especially since the storage facilities have never been exploited and the distributors make no effort to respect their commitments.