The Moroccan government has decided to delay the liberalization of the oil and fuel sector until 2004. The plan will enable the Samir Oil Company, owned by the Saudi Coral Oil Group to invest $600 million to renovate the oil refinery in Mahmadiya, Morocco, Al-Hayat reported.
The investment is expected to increase the output of the Moroccan oil refinery. The Samir Company has recently commissioned the British Foster Wiler Company to prepare the necessary engineering studies to determine which of their plants should have hydro energy facilities installed. The Mahmadiya oil refinery satisfies 80 percent of Moroccan energy oil consumption.— (menareport.com)
© 2001 Mena Report (www.menareport.com)
