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==Oil and natural gas==
The United States Energy Information Administration (USEIA) reports that Morocco produces only "marginal amounts of oil, natural gas, and refined petroleum," and it has never exceeded 5,000 barrels per day.<ref>{{Cite web|title=International - U.S. Energy Information Administration (EIA)|url=https://www.eia.gov/international/overview/country/MAR|access-date=2020-09-29|website=www.eia.gov}}</ref> While past production in the late 1990s and early 2000s was as high as 4,700 barrels per day, as of June 2020, the USEIA reported
Morocco produces small volumes of oil and natural gas from the Essaouira Basin and small amounts of natural gas from the [[Gharb Basin]]. Consequently, Morocco is the largest energy importer in northern Africa. Costs have been rising rapidly. High oil prices in 2005 increased import costs to approximately $2 billion for the year. In 2008, total costs related to energy imports reached $8 billion.<ref>{{Cite web|title=Africa Economic Institute : Morocco: $11 Billion to Energy Sector|url=http://africaecon.org/index.php/africa_business_reports/read/51|access-date=2020-09-29|website=africaecon.org}}</ref> In 2003, the Moroccan government announced that foreign companies could import oil without paying import tariffs. This followed a 2000 decision in which Morocco modified its hydrocarbons law in order to offer a 10-year tax break to offshore oil production firms and to reduce the government's stake in future oil concessions to a maximum of 25 percent. The entire energy sector was due to be liberalized by 2007.
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