Gloomy outlook for North African refiners
Issue 310 - 23 Oct 2015
Saudi billionaire Mohammed Hussein Al-Amoudi has promised funds to help turn around embattled Moroccan refiner Société Marocaine d’Industrie de Raffinage (Samir), which has been out of production for nearly two months (see box). Algerian officials are insisting that plans to build at least some of its long-planned new refineries will be implemented, and upgrading work is moving ahead in Egypt. But, overall, the outlook for refiners across North Africa is grim, with unpromising finances stalling several schemes and conflict submerging whole industries, as in Libya.
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