SAMIR wins 300-million funding contract

Mohammedia - Moroccan oil company (Samir) has successfully completed the second phase of its finance re-engineering program by signing recently a 300-mln funding contract with Glencore Energy Group. According to a statement of SAMIR, the contract also includes agreements on crude oil import and surplus export, noting that the funds relating to the financing agreement signed on 22 January were transferred to the account of the company.

The same source said that under the same program, SAMIR repaid in advance the remainder of the loan dedicated to revamp the Mohammedia refinery benefitting a consortium of Moroccan banks, and which amounts to 1.7 billion dirhams.