Thursday, March 28

Morocco Refiner Samir Posts Record 2014 Loss

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Reuters

Samir

Morocco’s sole oil refiner Samir posted a record net loss of 3.42 billion Moroccan dirham ($349.7 million) in 2014, mainly due to the revaluation of inventory after oil prices fell.

The company, controlled by Corral Petroleum Holdings, posted a profit of 300 million dirham in 2013.

($1 = 9.7805 Moroccan dirham) (Reporting by Aziz El Yaakoubi; editing by David Clarke)

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