With difficult market conditions having eased, OCI seeing better performance so far in 2024

HOUSTON (ICIS)–OCI said after facing difficult fertilizer market conditions in 2023 it is having a much better performance through Q2 of this year.

The producer said they continue to see progress in efficiency gains as it remains focused on its global decarbonization strategy.

In addition, over the past quarter OCI said it has taken significant steps towards advancing its strategic aims, which include accelerating expansion plans fueled by green methanol adoption and further diversification their European nitrates portfolio.

“Following extremely challenging market conditions in 2023, conflated with prolonged turnarounds at some of OCI’s assets, OCI benefited in the second quarter of 2024 from sustained improved asset reliability across the business,” said Ahmed El-Hoshy, OCI Global CEO.

“OCI’s manufacturing excellence program and investments to improve reliability continue to drive productivity gains, with asset utilization rates surpassing historical levels across both the nitrogen and methanol complex.”

The producer said OCI Beaumont achieved a 96% rate through Q2, while OCI Nitrogen saw both ammonia lines running at approximately 90% level during the quarter.

“The OCI team continues to do an outstanding job driving forward our operational excellence program, focused on reliability and process safety fundamentals,” El-Hoshy said.

The producer also said their Texas Blue Clean Ammonia facility in Beaumont is on track to commence production in 2025.