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Moroccan refinery owned by SAMIR runs into trouble

Morocco’s Societe Anonyme Marocaine de l’Industrie du Raffinage or SAMIR has announced that is will have to cease operations at Mohammedia Refinery, the country’s only oil refinery, because of financial difficulties. Reuters reports that in April this year, the company had secured almost $600 million in financing from a number of international investors, including The Carlyle Group and the International Islamic Trade Finance Corporation. 

Read more at Reuters…

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