RABAT / Reuters French carmaker Renault and component suppliers will invest 10 billion dirhams ($1.04 billion) in Morocco to build an “industry ecosystem”, the country’s industry minister said on Friday. Renault’s ecosystem and its new plants will raise Renault’s local sourcing of components to 65 percent from 32 percent and are projected to generate 20 billion dirhams in revenues, Moulay ...

DUBAI / Reuters Iran is exporting around 350,000 barrels of crude oil a day to India and hopes to increase this number, Oil Minister Bijan Zanganeh was quoted as saying on Saturday after meeting Indian counterpart Dharmendra Pradhan. The Shana news agency, linked to Iran’s oil ministry, quoted Zanganeh as saying Indian oil purchases from Iran were at 350,000 barrels ...

LONDON / Reuters Oil refineries are shifting into high gear to produce as much gasoline as possible for the world’s fuel-hungry drivers – kicking the problem of a worsening diesel glut further down the road. The “margin” or profit derived from refining crude into diesel has plunged in Europe, hitting multi-year lows this week as demand for the fuel – ...