Morocco’s Sole Refiner Seeks $1bn To Restart

The board of directors of Morocco’s Samir – operator of the country’s only refinery – has scheduled an extraordinary shareholders’ meeting on 16 October to vote on a proposed capital increase of MD10bn ($1.04bn). The meeting will take place in Mohammedia, north of Casablanca, site of its 200,000 b/d plant which has been shut since early August.

Samir announced on 14 September that its current capital...