First Independent Mena Newspaper
Morocco’s only refinery has been idle since 2015 over unpaid taxes and legal hurdles, leaving the country prey to dependence on refined oil imports and fluctuations in the international markets. Calls for reactivating the idle Samir refinery in Mohammedia become more acute as fuel prices more than doubled compared to last year, due to a […]
The recent decision by the Moroccan state to rent the storage platforms of Samir refinery was seen by staff and analysts as a first step towards finding a solution to the plant that would lead to relaunching the refining activity in the country. Morocco’s only refiner Samir in Mohammedia has been shut down since 2015 […]
A breakthrough may be near in the long-running crisis that forced Morocco’s sole oil refinery Samir into closure after the court-appointed manager of the refinery received a buyout offer totaling $3 billion, several media reports said. The trustee running the company Mohamed El-Krimi was reported in the media as saying that he expects more expressions […]
Creditors of Morocco’s sole refinery, Samir, are putting on the table the alternative of converting the massive 43-billion-dirham debt ($4.55 billion) into shares, a move that entails giving creditors a say in the board of trustees, Moroccan media reported on July 11. After an appeals court in Casablanca upheld a ruling placing the refinery into […]