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FINANCIAL NEWS
Morocco’s SAMIR refinery suspends production
08 Aug 2015
(MENAFN) Morocco’s Societe Anonyme Marocaine de l’Industrie du Raffinage (SAMIR) said it will halt production at its 200,000 barrel per day (bpd) Mohammedia refinery.
The refinery said the decision was due to financial difficulties, the company said in a statement. It said it will continue to supply oil products until its stocks run out.
The refinery is awaiting delivery of two cargoes of 2 million barrels of crude oil, scheduled to arrive between Aug. 15 and 18, and will stop production after processing them.
As Morocco’s only refinery, its closure would make the country entirely reliant on imports to feed its fuel needs. At just under 300,000 bpd in petroleum consumption, it is Africa’s fifth largest oil consumer.
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