São Paulo – Moroccan refinery Samir has got international financing of US$ 200 million, according to information disclosed by Maghreb Arabe Presse (MAP), the news agency of Morocco. The total should be provided by Glencore Energy UK, with support of international banks Natixis and Apicorp, and in exchange the Moroccan company will export part of its oil production to the company in the United Kingdom.
Glencore Energy is a subsidiary of Glencore International PLC, which is Swiss, and operates in the supply and delivery of oil and gas, mainly for industry. Glencore group as a whole produces and trades commodities worldwide, in the areas of metals and ores, energy and agricultural products.
The financing to Samir will be paid back in 24 months. The main activity of the Moroccan company, which has plants in sites like Mohammedia and Sidi-Kacem, is oil refining. The company has a subsidiary responsible for distribution logistics and product storage, as well as a share in several other distribution, engineering, training and infrastructure organisations.
The company’s refining capacity is 150,000 barrels/day. Storage capacity is around 2 million cubic meters. Samir is responsible for 85% of the demand of oil products in Morocco, according to information on its site. The company employs around 1,200 people.
*Translated by Mark Ament
