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Morocco’s OCP group and the Abu Dhabi National Oil Company known as ADNOC have signed an agreement to look at the «phased creation» of a new fertilizers joint venture with plants in the United Arab Emirates and the Kingdom, reports Reuters.
«The agreement builds on the expanded partnership model we announced last year, as we open our entire value chain to reliable, value-adding, long-term partners, who can complement our capabilities and resources, and enhance our market access», said Dr Sultan Al Jaber, Adnoc Group chief executive in a statement relayed by the National.
This agreement is part of a long-term partnership announced in December, 2017 by the two companies. Adnoc, known as the world’s largest producers of sulphur and which supplied OCP with 2 million tones of the same compound last year had agreed with the Moroccan company to «consider a gradual increase of the contracted volumes of granulated sulphur through 2025», explains the same source quoting the Emirati firm.
The oil company’s important sulphur production is expected to increase due to its sour gas reserves which «after processing yields the yellowish chemical as a byproduct», according to the same source.
Sulphur, a chemical element, is commercially used in the production of sulfuric acid for sulfate and phosphate fertilizers. For the record, OCP is one of the leading exporters of phosphate fertilizers in the world.
