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Iraq withdraws from buying Moroccan refinery


yota691
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Iraq buys oil refinery from Morocco

Iraq buys oil refinery from Morocco
 


 Twilight News    
 one hour ago

The state of Iraq has suddenly entered the line of acquisition of the "Lassamir" refinery.

The same newspaper said that while the agency "Dow Jones" lead to the announcement of the news, confirmed the site "médias 24" based on private sources that the Iraqi state, along with other partners offered to buy the company.

She added that the first partner of the Iraqi states is the famous BBEnergy Group, and the identity of the third partner has not yet been identified, pointing out that it is a European consulting firm with expertise in oil-related fields and a good knowledge of " "He said.

The newspaper said that Iraq intends to raise its production of oil, so the acquisition of "Lasamir" enable it to store part of the oil with the production of 200,000 barrels per day of refined oil, directed to Western European countries.

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17 minutes ago, markb57 said:

they're broke and ask the world to rebuild their infrastructure and they're buying refineries? :huh:

 

Dude, I was just thinking the same thing.....:confused::confused2:......but this to me suggests hopefully, that darn HCL should pop up any day now.....(wishful thinking of course.:praying:)

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  • yota691 changed the title to An Iraqi Iraqi competes for an oil refinery in Morocco
 
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Oil refinery
  

 energy


Economy News Baghdad

Iraq is offering to Morocco to get a big deal, and the Moroccan side is waiting for it .

Iraq wants to resume production at the two-and-a-half-year-old refinery in Morocco, according to Morocco's "24 Today" website .

The Iraqi authorities have spoken closely of reaching an agreement with Morocco to restore production at the refinery .

The UAE group Al Otaiba also made an offer to Morocco to work at the refinery .

The Iraqi authorities have held serious talks with Morocco, BP Energy and another consulting firm, with Mohamed al-Karemi, who is responsible for the judicial liquidation of the Moroccan company .

The Moroccan company seeks to repay debts, guarantee employment and employment, and revive industrial activity that has been suspended for some time .

Iraq is also seeking to increase oil production to 200,000 barrels per day, and will be exported to Europe and North America .


Views 20   Date Added 19/04/2018

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Iraq wants to buy "Samar" Moroccan

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8
Iraq wants to buy "Samar" Moroccan

 

19-04-2018 12:53 PM

 

The Euphrates -

 

Iraq is bidding to acquire the Samair refinery, the only oil refinery in Morocco, which has been shut down for more than two and a half years due to financial problems that led to bankruptcy. 

The Iraqi authorities, according to Moroccan media, reported that an agreement was soon reached with Morocco for the production of the refinery, but with the least possible amount of money to settle the debts of the refinery, located in the northern city of Muhammadiyah. 

Stressing that Iraq wants to increase its production of oil and its derivatives, where he plans to liquidate 200 thousand barrels per day of crude oil, where he intends to export oil derivatives to Europe and North America. 

In addition to the Iraqi offer, which is awaiting the approval of the Moroccan authorities, the group 'Otaiba' UAE offer rival, but the Iraqi offer to ensure payment of refinery debt, and revive the industrial activity of the refinery is suspended from work, which was welcomed by the Moroccan business.

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19-04-2018 02:10 PM
image.php?token=e81b2b8c76f071c7763cd0b4e2d6d13c&size=
 


 

 

Iraq is offering to Morocco to get a big deal, and the Moroccan side is waiting for it. 

Iraq wants to resume production at the two-and-a-half-year-old refinery in Morocco, according to Morocco's 'Today 24'. 

The Iraqi authorities have spoken closely of reaching an agreement with Morocco to restore production at the refinery. 

The UAE group Al Otaiba also made an offer to Morocco to work at the refinery. 

The Iraqi authorities have held serious talks with Morocco, BP Energy and another consulting firm, with Mohamed El-Krimi, who is in charge of the judicial liquidation of the Moroccan company. 

The Moroccan company seeks to repay debts, guarantee employment and employment, and revive industrial activity that has been suspended for some time. 

Iraq is also seeking to increase oil production to 200,000 barrels per day, and will be exported to Europe and North America.

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UAE and Iraq vie for Morocco's only oil refinery

 

 Since 2018-04-22 at 15:43 (Baghdad time)

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 Follow - Mawazine News

The Iraqi government has announced its desire to invest in the Moroccan refinery, after the group "Otaiba" UAE also wanted to acquire the only oil refinery in Morocco.

"The Iraqi government has entered the line, as a second candidate to exploit the refinery of the Moroccan company unknown to the name of industry and refining," known as "Samar", the site of the "Arab Post" reported on Saturday, , After Saudi businessman Mohammed Hussein al-Amoudi relinquished ownership in March 2016. Samir became a custodian after a decision by the Casablanca Chamber of Commerce, following a debt rise of $ 4.3 billion.

The report added that "the new offer to sell the refinery, came after the announcement of the Casablanca Commercial Court, failed to request the first offers to achieve a minimum appropriate for the performance of the company's debts." The adviser to Iraqi Oil Minister, Zia al-Moussawi, An Iraqi delegation to Morocco to contract to invest in the refinery "Samar" oil.

Moussaoui said that "there is a technical delegation from the Ministry of Oil, went to Morocco to assess the status of the refinery, and to study the possibility of benefiting the Iraqi government in any way, whether by operation or investment or something else," He said that "the technical condition of the refinery is worn out and will not benefit Iraq" , As described.

The UAE group Otaiba, which has also offered to Morocco to restart the Samair refinery, has been in operation for more than two years. Its representatives have visited the company and its facilities in Muhammadiyah and have seen everything about Samir to the extent that they have visited some The tourist units owned by the company in other cities.

According to the trade union source, "Emiratis are more likely than others to respect the terms of the Samir purchase, set by the Commercial Court."

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  • yota691 changed the title to Iraq withdraws from buying Moroccan refinery
 
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 energy


Economy News _ Baghdad

BAGHDAD (Reuters) - Iraq's commercial court has given Morocco another three months to sell the Samar group, which owns Morocco's only oil refinery, sources familiar with the dispute said Tuesday.

Al-Arabi newspaper quoted the source as saying that Casablanca's commercial court had granted another three months to sell the Samar group, which owns the only oil refinery in Morocco after Iraq declined to buy it. The judicial guard for further liquidation. "

She added that BP Energy and the European company maintain their desire to continue to offer the offer despite the withdrawal of Iraq, noting that if the two companies in the presentation of the offer, which withdrew the Iraqis, it will force them to search for a new partner for them.

The newspaper quoted "official Iraqi sources", in statements to local media, the Iraqi government's withdrawal from the race to buy the only oil refinery in Morocco, where justified by the fact that the technical report was not encouraging.

Those sources, whose name was not mentioned, considered the refinery outdated and affected by the suspension since August 2015.

The judge is supposed to look for a buyer for the Samar group, especially after the Iraqis have declined to buy it, and the contents of another offer from the UAE's Al Otaiba Group are not disclosed.

The Otaiba Group, which has the financial capacity to purchase Samir, aims to export refined oil from Morocco to the international market, especially as importers meet all the needs of the local Moroccan market.

To sell Samar, which has $ 2.6 billion worth of official experts, Morocco needs to restart the refinery and keep jobs for 825 people, excluding indirect opportunities.

Samir is in judicial liquidation after its debts reached about $ 4.3 billion. Coral Petroleum, owned by Saudi billionaire Mohammed Al-Hussein Al-Amoudi, bought the group under privatization for $ 450 million.


Views 16   Date Added 24/04/2018

 
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