THE
NORTH AFRICA JOURNAL
153rd. Issue
Week ending July 26, 2004
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Libya has a vast territory. It is about the size of France, Italy, Germany, Spain and Belgium combined. Known for its crude oil sector, which exports roughly 1 million barrels per day, Libya also has major gas reserves, which it plans to use to power its electrical stations and its heavy industries. Libya will need this energy to cover a country that is nearly 1.8 million square kilometers, boasts a 2,000 kilometer coastline, and 1,500 kilometers from its most northern tip to its most southern border in the Sahara. And the government’s goal is to spend up to $10 billion to generate more power to accompany the expected growth in economic activity and export some of the electricity to neighboring markets.
Oil and Gas
More Spending on Petroleum Import in Tunisia
Crude oil price increases have had some impact on the Tunisia economy, primarily affecting its trade balance. Although 2004, which witnessed the highest prices in years, is not over yet, 2003 is a good indicator in that prices have also climbed, averaging $34.5 a barrel, against $28.8 in 2002. Continue here
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Urban Planning
Can Morocco Eradicate its Shantytowns in Less Than a Decade?
Substandard housing and the proliferation of shantytowns are sources of social tension and hardship to millions of households. Shantytowns have also been a breeding ground for disgruntled and underprivileged youths, a few of whom turned to terrorism as an act of resistance against their state of poverty and lack of upward social movement and economic opportunity.
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Telecom
Algeria and Tunisia Seek Partial Privatization of State Telecom Firms
The Algerian government is planning to open the state-owned telecom company Algerie Telecom (AT) to private investors. The government is confident that within a year and a half, an investor is likely to take an equity participation in AT, although a decision has not yet been made on the stake to be earmarked for sale. This announcement was made by Amar Tou, the post and technology minister during a conference held last week in Algiers on the topic of Wifi.
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Business/Hotels
Signs of Rebound in Hotel Construction in Morocco
After years of stagnation and even decline, investment in the tourism sector in Morocco has begun to recover. This recovery is important and must accelerate if Morocco wants to reach its goal of attracting 10 million tourists in a few year’s time. The country needs more lodging capacity of higher standard and agreements signed in the past four years to expand that capacity are a good sign of increased interest from the investor community in the Moroccan destination.
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Oil and Gas
Operator of Samir Oil Refinery in Morocco Seeks More Concessions
The Sweden-based Saudi-owned Corral Petroleum, the operator of the Samir oil refinery in Morocco, is facing difficulties convincing the Moroccan government to endorse its plan and accept its conditions of extending preferential treatment beyond already agreed upon deadlines. Talks between the two have been focusing more recently on the actual earmarking of a potential $660 million investment from Samir. But the refiner has been seeking to impose new conditions on Morocco, despite that the refiner has complete monopoly and full tariff protection. Continue here...
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Infrastructure
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