OCI Global Energy Transition Leadership
OCI
Global
Executive Summary
Q3 '23 revenues $1.1 billion, adjusted EBITDA $242 million, adjusted net loss $95 million, consolidated net leverage 1.5x.
Kol
A
Nitrogen outlook:
Nitrogen prices bottomed in late Q2 2023/early Q3 2023; ammonia and urea prices are now up ~150% and ~35%
respectively from trough levels, supported by demand recovery and tightening supply.
Limited incremental capacity additions in the next several years, and elevated marginal production costs provide long
term support for the market.
Methanol outlook:
Prices reached trough levels in early Q3 2023 but have since recovered ~45%. Over the medium term, methanol markets
are expected to be supported by a recovery in the global macro environment as and when this materializes, higher oil
prices and improving MTO affordability, boosted by accelerating delivery of methanol-fuelled ships.
Hydrogen growth initiative updates:
Texas Blue Ammonia project remains on track to commence production in early 2025. We are currently in advanced
discussions regarding long-term offtakes and potential equity participation, reflecting strong commercial interest.
In September, OCI announced a green hydrogen supply agreement with New Fortress Energy's ZeroParks, which allows
OCI to scale up its green ammonia production capacity to 160,000 metric tons per year by 2026
OCI announced a doubling of green methanol production capacity to c400kt/yr by 2025 at our plant in Beaumont, Texas
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