Scrutiny Over Samir Oil Refinery's Storage Facilities
The Moroccan Ministry of Energy is currently facing heightened scrutiny regarding the actual utilization of storage facilities at the dormant Samir oil refinery. This concern arises following statements made by Energy Minister Leila Benali, who affirmed that the state has permitted operators access to the infrastructure over the past three years. In an interview with 2M TV channel, Minister Benali highlighted that her ministry had indeed leveraged Samir's storage capacity to facilitate energy operators in storing petroleum products. Notably, she claims to be the first minister to authorize the rental of tanks at the refinery, which has been inactive since 2015 due to liquidation stemming from substantial debt and mismanagement under its Saudi owner, Coral Holding.
The closure of the Samir refinery has rendered Morocco entirely dependent on the importation of refined fuels, exacerbating the country’s vulnerability to external shocks, particularly in light of the current closure of the vital Hurmuz Strait. Minister Benali stated that Samir's storage capacity has been factored into the ministry's official data since 2023, with several companies reportedly utilizing the facilities. The total storage capacity of Samir is estimated to range between 1.8 million and 2 million cubic meters; however, the current utilization is alarmingly low, at about 4% of the total available capacity.
On March 31, Houcine El Yamani, who heads the National Petroleum and Gas Union and presides over the National Front for the Preservation of Samir, expressed concerns, indicating that only one tank is currently operational. This situation raises significant questions regarding the refinery's role in ensuring energy security and maintaining market equilibrium within Morocco. Furthermore, this situation unfolds against the backdrop of Morocco's ongoing economic discussions with the International Monetary Fund (IMF), which has reaffirmed the country's eligibility for accessing Precautionary Liquidity Line (PLL) resources, initially approved in August 2012, after completing a review of Morocco's economic performance.
As reported by northafricapost.com.
