Morocco's hydrocarbon needs secured for next 15 days, refinery manager
Morocco, Economics, 11/30/2002

Morocco's reserves in hydrocarbons, beefed up by the importation of some 90,000 tons of gasoline can meet the country's needs for the coming 15 days, general manager of the SAMIR oil refinery, Abderrahmane Saaidi, said.

The Samir refinery was ravaged by a blaze Monday night, due to the floods that affected the city of Mohammedia. Oued El Maleh waters carried oil to a hot level of the pipes which went ablaze, killing two persons.

Speaking at a press conference in Casablanca Thursday, Saaidi said two distilling units of the refinery were not affected by the fire, and will resume production in 15 days after cleaning and drying. The other units will require 8 to 12 months to be operational.

Along with the Sidi Kacem refinery, they can ensure 60% of the production capacity, i.e. 70% of the average demand.

The executive said the 120 to 130 tons of gasoline deficit will be largely compensated by imports.

The refinery lost some 1.5 billion Dirhams (US$ 142 million), Saaidi said, adding that the exact amount will not be known until pumping and reparation works are over.

The Samir, 67.3% owned by Saudi-Swedish group Corral Holdings AB, is 96% insured against risks, including fire like that of Monday. Insurance experts have started assessing the damages.

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