ADNOC and OCP Sign Long-Term Sulphur Sales Agreement and Will Explore Future Volume Increase
The Abu Dhabi National Oil Company (ADNOC) and the OCP Group of Morocco (OCP) introduced today the signing of a long-term sales contract where ADNOC will supply OCP with granulated sulphur.
Under the arrangement, ADNOC, one of the world's largest exporters of sulphur, will steadily supply OCP, the biggest around the world sulphur importer, up until 2025. The two celebrations agreed to think about a steady rise of the acquired yearly quantities. ADNOC exported more than 2 million metric lots of granulated sulphur to Morocco in 2016.
Abdulla Salem Al Dhaheri, Advertising, Sales and Trading Director at ADNOC, said: This landmark agreement, which is unique in the sulphur industry, strengthens ADNOCs position as one of the worlds largest exporters of sulphur. It will reinforce the sustainable supply of sulphur to Morocco and enhance our ability to achieve positive margins.
Significant synergies exist between ADNOC and OCP, permitting both firms to explore various chances for a bigger cooperation.
Mr. Mustapha El Ouafi, Managing Director at OCP, stated: "Because 2008, OCP has actually started the biggest investment program in the fertilizer industry with the goal of doubling its mining capacity and tripling its plant food ability. Our ambitious program will see OCP further reinforce its setting as the world's biggest fertilizer producer and a leading gamer in the agriculture value chain. Therefore, we are committed to further creating a dependable and calculated partnership with ADNOC, the world's largest sulphur exporter."
As a by-product of its sour gas procedures, ADNOC and companions generate greater than 6 million lots of sulphur annually, exporting it to customers from its modern sulphur taking care of facilities in Ruwais. The quantity of sulphur readily available for export will boost over the next decade as ADNOC and partners brings brand-new sour gas jobs on line, as part of its strategies to attain gas self-sufficiency by 2030.
