Petroleum Africa
Find us on: 
Monday, March 31, 2014
Samir, the Moroccan oil refiner, has received an Islamic murabaha syndicated loan of $240 million from the Islamic Development Bank (IDB). The loan will be used to finance crude oil imports.
The agreement is part of a $720 million package of loans from the bank. Samir received the first tranche of $200 million in 2012.
Samir began commercial use of a new crude distillation unit with a processing capacity of 80,000 bpd in Q3 2013 and the expansion brought its processing capacity to 200,000 bpd.
In February the refiner obtained a $300 million loan via an agreement with Glencore Energy. The agreement includes exporting part of its production to Glencore. This is the second agreement the Moroccan refiner has signed in the past couple of years.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
