Morocco oil imports reach $336m in two months

06 Apr 2010

(MENAFN) Morocco’s exchange office said in a statement that the kingdom’s oil bill oil bill in the first two months of the year reached about $335.5 million, with a rise of 1.4 percent compared to the same period last year, Reuters reported

The bill rose despite a fall in terms of the quantity imported. Morocco thus imported 639,500 tons of crude oil in the year to February, against 1 million tons a year earlier.

This situation is a result of a steep rise in oil prices, as the average price of an imported ton of crude oil increased 61.9 percent, reaching $524.8 in February 2010 compared to $324 in the same period last year.

Consequently, overall energy imports jumped 17.8 percent to stand at about $1.07 billion, according to the statement.

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