Tag: CF Industries

CF Industries is planning to construct the world’s largest low-carbon ammonia plant in Louisiana as part of a joint venture (JV) with Jera and Mitsui.

CF Industries has formed a joint venture with JERA, Japan’s largest energy company, and Mitsui & Co, a leading global investment and trading company, for the construction, production and offtake of low-carbon ammonia.

We compare and contrast the 2024 financial performance of selected major fertilizer producers following the publication of fourth quarter results.

Venkat Pattabathula, a member of the AIChE Ammonia Safety Committee, reports on the American Institute of Chemical Engineers’ (AIChE) Safety in Ammonia Plants and Related Facilities Symposium held in San Diego on 8-12 September 2024.

Market snapshot, 17th October 2024 Urea : Prices firmed in a thin market in mid-October. Middle East values shot up $20/t on expectations that Indian Potash Limited (IPL) would announce another tender to secure tonnes for India in December. If correct, this will follow hot on the heels of the latest Rashtriya Chemicals and Fertilizers (RCF) purchase tender for 0.56 million tonnes of urea. Sohar International Urea & Chemical Industries (SIUCI) sold a November cargo at $390/t f.o.b. with further trader interest reported at $385/t f.o.b. This demand was probably generated by traders positioning themselves for IPL’s expected tender, given that other markets generally remained quiet.

Mark Thompson became Nutrien’s executive vice president (EVP) and chief financial officer (CFO) on 26th August. Mr Thompson succeeds Pedro Farah , who will remain with the company in an advisory capacity until 31st December as part of a succession plan.

Yara to purchase renewable calcium ammonium nitrate (CAN) from Atome

The US fertilizer industry, ranked fourth globally in terms of total production capacity, has grown and developed alongside an increasingly sophisticated domestic agricultural sector. The Biden administration has earmarked $900 million for investment in fertilizer assets to boost domestic production capacity and reduce input costs to farmers.

OCI Global says that it has reached an agreement for the sale of 100% of its equity interests in its Clean Ammonia project currently under construction in Beaumont, Texas for $2.35 billion on a cash and debt free basis. The buyer is Australian LNG and energy company Woodside Energy Group Ltd. Woodside will pay 80% of the purchase price to OCI at closing of the transaction, with the balance payable at project completion, according to agreed terms and conditions. OCI will continue to manage the construction, commissioning and startup of the facility and will continue to direct the contractors until the project is fully staffed and operational, at which point it will hand it over to Woodside. The transaction is expected to close in H2 2024, subject to shareholder approval.

Ammonia markets were quiet in June, though both CF Industries and Grupa Azoty were reported to be looking for July tonnes and the enquiry will test how tight the market is going forward. Algeria has traded in the $400-405/t f.o.b. range, suggesting c.fr values in Europe might be slightly higher at $450-460/t c.fr. Supply from Algeria has been and continues to be somewhat restricted because of constraints caused by the hot weather. Gas supply however is easing in Egypt and further ammonia exports should emerge shortly.