what standard can the refined oil achieve in morocco

                                               
                                               
                                               
                                               
                                               
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  • What is oil used for in Morocco?
  • These include fuels for automobiles, ships and aircraft, as well as those used for heating. Oil is also made into a variety of chemicals and products with a wide range of industrial and commercial uses ¨C notably plastics. No data for Morocco for 2022.
  • How has Morocco liberalised oil prices?
  • The Moroccan government liberalised oil prices through the Agreement on the Approval of Petroleum Product Prices between the Moroccan Government and the Petroleum Products Sector signed on 26 December 2014, and oil prices are no longer fixed by regulation.
  • How much oil does Morocco import?
  • According to data provided by the International Energy Agency, Morocco had a total final consumption of oil products of 11.30 million tonnes of oil equivalent (TOE) in 2016. However, according to the OECD, Morocco produced only 4,650 TOE of crude oil in 2016 and is therefore almost exclusively dependant on oil imports.
  • What is the VAT rate for oil and gas in Morocco?
  • However, this rate does not apply to lubricants and oil or distillation sub-products, which are subject to the standard VAT rate of 20%. The export of oil and gas is VAT exempted under Moroccan VAT territoriality rules. The local VAT rules also apply to oil and gas imports. Oil and gas imports are also subject to the following import duties:
  • Are oil and gas companies subject to the Moroccan tax code?
  • Oil and gas companies are subject to the Moroccan Tax Code (MTC) in the same way as other companies. Although Law No 21-90 provides for tax provisions and incentives, since 2007 Article 248-IV of the MTC provides that all tax provisions deriving from separate pieces of legislation (including Law No 21-90) are no longer applicable.
  • How much natural gas does Morocco produce?
  • Morocco has only marginal gas production. The production of natural gas accounted for 3,097 terajoules (TJ) (on a gross calorific value basis) in 2015. Morocco does not export natural gas. Morocco imported 44,154 TJ of natural gas in 2015. This may decrease, as a new gas field has been discovered this year in Tendrara.