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Sound Energy secures $237m financing for Moroccan gas project in the UK

RIYADH: A natural gas project in east Morocco will soon be completed thanks to a new finance push from the largest bank in the North African country. UK-based Sound Energy has received a conditional offer from Attijariwafa Bank to obtain funding amounting to 2.3 billion Moroccan dirhams ($237 million) for the Tendrara-based project’s second phase, according to a statement. The funding will be allocated for completing drilling, operating wells, and building a pipeline to transport natural gas to the state’s National Office of Electricity and Drinking Water.

Crude Oil Prices Rise on US Stock Draws, Amid Lingering Rate Hike Concerns

RIYADH: Oil prices edged higher on Wednesday after industry data showed a larger-than-expected drawdown of US inventories, signaling robust demand from the world’s biggest oil consumer, but the gains were limited by worries over interest rate hikes.   Brent crude futures rose 43 cents, or 0.60 percent, to $72.69 a barrel at 09:28 a.m. Saudi time, while US West Texas Intermediate futures gained 40 cents, or 0.59 percent, to $68.10 a barrel.  

Egypt boosts energy transition with updated climate commitments

RIYADH: Egypt aims to advance its target of generating 42 percent of its energy through renewable sources to 2030 from 2035 as the North African nation submitted updated climate commitments as per the Paris Agreement on Monday.   In its updated Nationally Determined Contribution document, Egypt noted that the country needs to obtain grants and soft financing worth €500 million ($548 million) as a contribution to achieving the revised targets. 

“Vingegaard and Pogacar Battle for Tour de France Victory”

BILBAO, SPAIN: Defending champion Jonas Vingegaard leads the Tour de France out of the Basque port of Bilbao on Saturday on a 21-day adventure crammed with peaks, postcard panoramas and an eye-catching showdown on a massive dormant volcano on the 3,404km route to Paris. The 30 mountains on the route lend Vingegaard of Jumbo-Visma an edge over two-time champion Tadej Pogacar backed by a reinforced Team UAE squad.

Wydad’s Late Goal Spoils Al-Ahly’s CAF Champions League Celebration

CAIRO: Al-Ahly took a small step toward an 11th continental title with a 2-1 win over Wydad AC in the first leg of the African Champions League final on Sunday but were left wondering what might have been. The Egyptians were looking good with a deserved two-goal lead before the Moroccans hit with a late goal, which means that next week’s second leg is very finely poised.

UAE and Egypt Take Opposing Sides in Sudan Conflict: Analysis

With Egypt sidling up to Sudan's army and the UAE holding some sway over RSF, what will the regional implications be?

Boosting African Childhood Immunisation Coverage is Vital

African leaders must not allow children to miss out on life-saving vaccinations.

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