VOL. XL

No. 39

29-September-1997

MOROCCO

Morocco's Samir Refinery Reports Lower Half-Year Profits For 1997

Morocco's main oil refinery at Samir has reported a net profit of MD228.4mn ($23.5mn)for the first half of 1997, a fall of 13% from the figure of MD262.9mn ($27mn) reportedfor the same period in 1996. A spokesman for the refinery attributed the decrease inprofits to "the result of a higher dollar which was detrimental to our currency as weare indexed to prices on international markets."...