The Moroccan House of Representatives has officially passed Bill No. 56.24, authorizing the transformation of the National Office of Hydrocarbons and Mines (ONHYM) into a public limited company.
During a legislative session on Tuesday, February 3, 2026, the bill received a majority vote of 82 in favor and 36 against. This institutional overhaul is a cornerstone of Morocco’s broader strategy to modernize its public sector and reposition the national energy and mining authority as a more competitive and agile global player.
Minister of Energy Transition and Sustainable Development, Leïla Benali, presented the reform as a vital step in strengthening Morocco’s energy sovereignty. By shifting from a traditional public establishment to a corporate legal structure, ONHYM will gain the flexibility to enter international markets, create specialized subsidiaries, and acquire stakes in both public and private enterprises. The new framework also introduces a specialized geoscientific information system, designed to enhance the office’s research and exploration capabilities through more modern data management.
A key feature of the new law is the controlled opening of ONHYM’s capital. While the State will remain the primary investor and maintain majority control to preserve national interests, the legislation allows for a gradual infusion of private sector capital. This shift is intended to diversify funding sources for large-scale projects and improve the valuation of Morocco’s mineral and energy assets. The reform also ensures that the new company will inherit all rights, assets, and obligations of the former office, providing a seamless transition for ongoing exploration permits and international partnerships.
The reform has drawn mixed reactions from across the political spectrum. Supporters within the governing majority argue that the change is necessary to navigate a volatile global energy landscape and accelerate the transition toward sustainable resources like natural hydrogen. Meanwhile, opposition groups have cautioned that the corporate shift must not come at the expense of strategic sovereignty. They have called for rigorous safeguards to ensure financial independence and the retention of high-level national expertise within the new corporate structure.
MK/AK/fss/abj/APA