Morocco's oil bill more than doubled during seven first months of 2004

Morocco's crude oil imports reached during the seven first months of 2004 some 7.94 billion Dirhams (around US$ 88 million), i.e. a 102.3% rise, as compared to last year (3.92 billion Dirhams), the exchange office said.

The increase represents 34.9% of the total imports increase, which went up from 79.3 billion Dirhams to 90.8 billions, the office said in its latest figures on Morocco's foreign exchanges until end of July 2004.

Crude oil imports also increased in terms of volume ("82.7%). The average price of 1 imported ton increased by 10.7% to reach 2,196 DH/T against 1,983 DH/T, the Office goes.

Beside crude oil, imports of gas and other hydrocarbons increased by 6.4% and those of coal by 59.9%.

Overall energy products imports reached 13.64 billion Dirhams, i.e. a 16.4% rise. They rank 5th on Morocco's importations with a 15% share.