Morocco gouvernement signed agreement ahead of oil prices liberalization

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image An approval agreement of petroleum products prices was signed on Friday in Rabat, between the government and the distributors of petroleum products to achieve in 2015 decompensation of these products and a total market liberalization. This approval procedure will be in a transitional period from 1 January to 30 November 2015, after the final decompensation of gasoline and fuel oil in February 2014 and diesel from 31 December 2014. During this period, the government will accompany industry professionals to fix prices of certain petroleum products, which will be announced on 1st and 16th of each month from 1 January to 30 November 2015. Speaking on this occasion, the Head of Government, Abdelillah Benkirane, said the signing of this agreement between the Moroccan government and major distributors of petroleum products will accompany liberalization of petroleum liquids products industry, focusing on the character progressive reform of the Compensation Fund. “This agreement takes into account consumers’ purchasing power, the interests of oil companies and the maintenance of macroeconomic stability,” assured Mr. Benkirane. For his part, the Minister of Economy and Finance, Boussaid Mohammed, said that “this agreement is the total decompensation of liquid petroleum products, market liberalization and the introduction of competition between retailers for consumers “. Through this initiative, “the government is moving towards the liberalization of prices of the three petroleum products (diesel, premium gasoline, fuel, Ed) after a final decompensation diesel, which will have a positive impact on prices due to competition “told the press Boussaid. He said that this initiative comes within the framework of the reform of the Compensation Fund, recalling that the indexing mechanism expires with decompensation expected in early 2015. For his part, President of Morocco’s oil Grouping Adil Zaidi, noted that this agreement will allow approval to stabilize the prices of petroleum products, reduce costs of compensation and relieve the state budget, noting that this initiative comes at a time of falling prices internationally. This agreement is the culmination of a series of meetings and consultations between the Government and the professionals of the oil sector, through a participatory approach, in order to supply the market and meet price and product quality standards tankers. It was signed by the Minister of the Interior, the Minister of Economy and Finance, the Minister of Infrastructure, Transport and Logistics, the Minister of Energy, Mines, Water and the Environment, the Minister Delegate to the Head of Government in charge of General Affairs and Governance, the president of Morocco’s oil Grouping and CEO of SAMIRAn approval agreement of petroleum products prices was signed on Friday in Rabat, between the government and the distributors of petroleum products to achieve in 2015 decompensation of these products and a total market liberalization. This approval procedure will be in a transitional period from 1 January to 30 November 2015, after the final decompensation of gasoline and fuel oil in February 2014 and diesel from 31 December 2014. During this period, the government will accompany industry professionals to fix prices of certain petroleum products, which will be announced on 1st and 16th of each month from 1 January to 30 November 2015. Speaking on this occasion, the Head of Government, Abdelillah Benkirane, said the signing of this agreement between the Moroccan government and major distributors of petroleum products will accompany liberalization of petroleum liquids products industry, focusing on the character progressive reform of the Compensation Fund. “This agreement takes into account consumers’ purchasing power, the interests of oil companies and the maintenance of macroeconomic stability,” assured Mr. Benkirane. For his part, the Minister of Economy and Finance, Boussaid Mohammed, said that “this agreement is the total decompensation of liquid petroleum products, market liberalization and the introduction of competition between retailers for consumers “. Through this initiative, “the government is moving towards the liberalization of prices of the three petroleum products (diesel, premium gasoline, fuel, Ed) after a final decompensation diesel, which will have a positive impact on prices due to competition “told the press Boussaid. He said that this initiative comes within the framework of the reform of the Compensation Fund, recalling that the indexing mechanism expires with decompensation expected in early 2015. For his part, President of Morocco’s oil Grouping Adil Zaidi, noted that this agreement will allow approval to stabilize the prices of petroleum products, reduce costs of compensation and relieve the state budget, noting that this initiative comes at a time of falling prices internationally. This agreement is the culmination of a series of meetings and consultations between the Government and the professionals of the oil sector, through a participatory approach, in order to supply the market and meet price and product quality standards tankers. It was signed by the Minister of the Interior, the Minister of Economy and Finance, the Minister of Infrastructure, Transport and Logistics, the Minister of Energy, Mines, Water and the Environment, the Minister Delegate to the Head of Government in charge of General Affairs and Governance, the president of Morocco’s oil Grouping and CEO of SAMIR

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