Skip to main content

OCI releases trading update

Published by
World Fertilizer,

OCI has released its 3Q16 trading update, which includes the following highlights:

  • Own-produced volumes sold increased 42% in 3Q16 compared to 3Q15.
  • Egypt urea utilisation rate c.80% during 3Q16 and 100% in September and October 2016.
  • Selling prices reached bottom in 3Q16, recovery in October and November.
  • All short-term debt repaid or refinanced, no debt maturing until late 2018.
  • Net debt stood at CAN$4.3 billion as of 30 September 2016, unchanged from 30 June 2016.
  • Iowa Fertilizer Company start-up is imminent, first product expected in December 2016.
  • Natgasoline 66.8% complete as at 30 September 2016.
  • Cost savings programme of US$100 million, of which US$65 million already in place and to be reflected in 2017.
  • Additionally, CAN$40 million annual benefits expected from EGP devaluation.

For more information, click here.

Read the article online at:

You might also like

 Plant Optimisation 2020

Plant Optimisation 2020

Professionals in the fertilizer sector can tune in from anywhere in the world and learn about the latest fertilizer plant optimisation innovations.

Register for your free space today »


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Urea news


World Fertilizer is not responsible for the content of external internet sites.