21 May, 2015
Article length: 450 words
Morocco refinery problems for Al-Amoudi/Al-Sultan empire
Despite moves to mobilise new finance, concern is growing in Morocco about the financial health of the North African kingdom’s only refinery, operated by Société Marocaine d’Industrie de Raffinage (Samir) at Mohammedia, and its ability to remain the dominant player in the national products market. This follows the announcement of losses in 2014 and questions about the ability and appetite of the refinery’s owner, Saudi-Ethiopian magnate Mohammed Hussein Al-Amoudi, to meet heavy financial costs.