Minister Benali: Morocco holds fuel, butane gas reserves above one month despite market turbulence

Morocco currently holds more than one month of fuel reserves, Energy Transition Minister Leila Benali said, as global market volatility linked to the Middle East conflict continues to affect energy prices.

In an interview with Hespress AR, Benali said Morocco has more than 47 days of diesel reserves, over 52 days of gasoline, and about 38 days of butane gas, including stocks stored in depots and ports.

She noted that the ministry had urged market operators since late last year to increase reserves of key fuels such as diesel and butane, which are critical to the country’s economic and social fabric.

Responding to questions about why Morocco has not consistently met the legal requirement of maintaining a 60-day fuel reserve, Benali said the priority remains ensuring supply availability. “As energy minister, what matters is that fuel is available on the market for Moroccan consumers,” she said.

She added that butane reserves rely on mechanisms that are more financial and investment-based than purely physical storage capacity.

Benali said the government has activated several measures to secure national fuel supply and prevent disruptions. Among them is the use of storage capacity at the SAMIR refinery over the past three years, enabling operators to stock fuel products.

The minister emphasized that, despite global investment challenges, ensuring adequate supply of strategic fuels such as diesel and butane remains the government’s top priority.

Following recent floods in parts of western and northern Morocco, the ministry also urged operators to increase investment in storage infrastructure, including tanks and logistics systems.

Benali said Morocco’s energy investment program is expected to mobilize more than $12 billion between 2025 and 2030 to strengthen the resilience of the country’s energy system.

She added that these efforts build on earlier priorities, including strengthening the national electricity grid and significantly increasing investment in renewable energy, which has more than tripled annually since 2021, alongside a fivefold increase in grid investment.

Since the onset of the Middle East crisis, the ministry has activated a monitoring committee to track developments, including fuel stock levels, she said. The response helped Morocco enter the current period with what she described as “comfortable” reserves despite earlier supply disruptions caused by floods.

Benali acknowledged ongoing volatility in global energy prices, noting that the government remains committed to ensuring supply, particularly for butane gas, which continues to be subsidized. She added that subsidies rose by more than 68% in March due to higher gas prices.

While coal prices remain relatively stable, she said other inputs used in electricity production have increased, adding pressure to the energy sector.