Swiss trader Glencore and US fund manager Carlyle (see left) are teaming up to buy Morocco’s shuttered 200,000 b/d Mohammedia refinery, Reuters says. Glencore pressed for the plant’s restart so it can recover $600mn in loans to operator Samir which should have been repaid in oil products. Samir’s complex debts have stalled Rabat’s hopes to raise $2bn from selling the plant. A Moroccan court forced Samir into administration in March 2016 over MD13bn ($1.33bn) in unpaid...
Morocco’s Samir: Rescue Bid
Published on Fri, 19 May 2017 - Volume: 60 Issue: 20Print
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