Morocco’s sole refinery, the 200,000 b/d Samir plant in Mohammedia has been stuck in financial and legal limbo since 2015 when it was mothballed due to its inability to pay billions in accrued debts to multiple creditors (MEES, 14 August 2015).
Former workers and union leaders say former owner Corral Holdings, controlled by Saudi businessman Muhammad Husain al-Amudi, ran the plant – a source of national pride – into the ground. But it is also true that the refinery, built in 1959, was struggling to operate in the highly competitive Atlantic Basin market. (CONTINUED - 787 WORDS)
