The CDT claims the restart of the Samir a flagship abandoned

The shutdown in 2015 and the implementation compulsory liquidation which has been going on since 2016 of the Samir refinery, has greatly contributed to the international cabotage activity of refined hydrocarbons (gasoline, diesel, kerosene, fuel oil). For lack of buyers and nationalization, the site is, so to speak, abandoned and is slowly dying while awaiting the decision of the International Center for Settlement of Investment Disputes (ICSID).

Despite government assurances that the Samir has not been abandoned at all, it is clear that there is danger in delay. In this context and at a time when fuel prices are at their peak, so to speak, against a backdrop of rising oil prices on the world market, voices are being raised to restart this refinery of which we are so proud .

It is in this sense that the Democratic Confederation of Labor CDT has called on the government to reopen Samir, Morocco’s only oil refinery, which, according to the union, would reduce expenses linked to international prices for refined oil.

Reduce expenses and even generate profits thanks to oil refining processes which have increased considerably, from 5 dollars a barrel to around 20 dollars, in a context marked by the Ukrainian conflict and its repercussions on the world economy.

The CDT, which is generally meticulous about small calculations, indicated that the restoration and other repairs necessary for the reopening of Samir would require a reasonable period of eight months and a budget of less than two billion dirhams.

Samir could then make a gross annual profit of 10 billion dirhams and a net profit of 5 billion dirhams, with recovery of the amount of the fixed price in 4 years and covering the expenses of restoration from the first year of operation.

Samir has been shut down for eight years due to the accumulation of its debts under the leadership of its former owner, the Saudi-Ethiopian businessman Mohammed Hussein Ali Al-Amoudi. At the time, the government estimated Samir’s total debt at around 44 billion dirhams. The businessman’s bank accounts and assets were indeed frozen and seized after the refinery closed as part of the pursuit of tax claims, but that was only a drop in the bucket. ‘ocean.

In the meantime, it is a heritage that is dying and money that is being lost in these times that are not very tender to our economy. It is as if the Executive likes to dither about neither-nor, in other words neither nationalizing the refinery nor exploiting its storage capacities, which currently amount to just over twenty days.

Nice to know the dispute between Morocco and the Coral group, the main shareholder of the company, has seized the ICSID against the Moroccan government to claim compensation related to the cessation of Samir’s activity should soon see the end of the tunnel. In the meantime, it is the more than six hundred employees of the Refinery who pay the costs.

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