HIBAPRESS – Abdellatif Baraka
Amid escalating geopolitical tensions and rising oil prices resulting from the war in the Middle East and the disruption of energy supplies through the Strait of Hormuz, Morocco faces a dual challenge, including a heavy reliance on fuel imports and the absence of local production capacity that enhances its energy security. In this context, Moroccan oil shale emerges as a potential strategic option that could alleviate pressure on the national economy and reduce the impact of global crises on the local market.
Geological estimates indicate that Morocco possesses vast oil shale resources, estimated to exceed 50 billion barrels, making it a prominent regional player in terms of unconventional energy resources. However, these resources do not necessarily imply the possibility of easy commercial extraction, as it requires complex conversion processes and precise control of infrastructure and advanced technologies.
Oil shale differs from conventional oil; it requires heating the rocks to release the kerogen and convert it into usable oil. This process is complex and consumes significant energy, as well as requiring massive investments, making the production cost much higher than imported oil, especially in light of volatile global prices.
The challenge is further complicated by the shutdown of the Samir refinery, the only refinery in Morocco, for years, which means that any oil extracted from oil shale needs external processing or international partnerships for refining. This situation reaffirms the urgent need to find practical alternatives to ensure energy security, whether through the development of local refineries or through investment in new refining technologies.
Despite these challenges, experts believe that oil shale constitutes a long-term strategic resource, but benefiting from it requires integrated steps that include the implementation of technical, environmental, and economic feasibility studies, attracting huge investments, rehabilitating refining capabilities, and building a sustainable regulatory and legislative framework that stimulates investment and ensures environmental protection.
In light of the current global crisis, and with the expectation of continued shocks in oil markets due to the disruption of the Strait of Hormuz, investing in oil shale remains a strategic option worth considering, along with strengthening renewable energy sources and building strategic reserves, to ensure Morocco's ability to face any future fluctuations in global markets.
