{"id":572924,"date":"2020-07-14T04:15:18","date_gmt":"2020-07-14T04:15:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/"},"modified":"2020-07-14T04:15:18","modified_gmt":"2020-07-14T04:15:18","slug":"oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/","title":{"rendered":"OCI NV, Adnoc could shutter fertilizer plants on high gas prices"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong>OCI NV, Adnoc cou<\/strong><strong>ld shutter Egypt fertilizer plants due to gas prices:<\/strong> High gas prices in Egypt could force OCI NV and the Abu Dhabi National Oil Company (Adnoc) to close all of their fertilizer plants in the country, the companies warned yesterday, according to <a href=\"https:\/\/bit.ly\/3eoPc8M\">Youm7<\/a>. The companies, which <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/oci-nv-adnoc-complete-fertilizer-merger\/\">last year merged<\/a> to create the region\u2019s largest fertilizer producer, said that they would first reduce production in response to the country\u2019s high gas prices, which they said were inflicting heavy losses on their operations. The factories will eventually have to close entirely if gas prices remain high, the group said, without clarifying whether any closures would be permanent. Industrial firms currently pay <a href=\"https:\/\/www.youm7.com\/story\/2020\/3\/19\/%D8%A7%D9%84%D8%AC%D8%B1%D9%8A%D8%AF%D8%A9-%D8%A7%D9%84%D8%B1%D8%B3%D9%85%D9%8A%D8%A9-%D8%AA%D9%86%D8%B4%D8%B1-%D9%82%D8%B1%D8%A7%D8%B1-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A8%D8%AE%D9%81%D8%B6-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%B7%D8%A8%D9%8A%D8%B9%D9%89\/4679280\">USD 4.5 per mmBtu for gas<\/a> in Egypt, more than 2.5x the international price paid by foreign competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OCI NV, Adnoc could shutter Egypt fertilizer plants due to gas prices: High gas prices in Egypt could force OCI NV and the Abu Dhabi National Oil Company (Adnoc) to close all of their fertilizer plants in the country, the companies warned yesterday, according to Youm7. The companies, which last year merged to create the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,99,5516,5515,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572924","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-fertilizers","tag-oci-n-v","tag-oci-nv","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"205b2263-6c6f-4df3-8f75-d61b906fc92c","is_powered_by":true,"section_story_id":"a002af26-6107-4710-8486-77cf8e13b421","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572914],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>OCI NV, Adnoc could shutter fertilizer plants on high gas prices - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCI NV, Adnoc could shutter fertilizer plants on high gas prices\" \/>\n<meta property=\"og:description\" content=\"OCI NV, Adnoc could shutter Egypt fertilizer plants due to gas prices: High gas prices in Egypt could force OCI NV and the Abu Dhabi National Oil Company (Adnoc) to close all of their fertilizer plants in the country, the companies warned yesterday, according to Youm7. The companies, which last year merged to create the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-14T04:15:18+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"OCI NV, Adnoc could shutter fertilizer plants on high gas prices\",\"datePublished\":\"2020-07-14T04:15:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\"},\"wordCount\":143,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"fertilizers\",\"OCI N.V.\",\"OCI NV\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/\",\"name\":\"OCI NV, Adnoc could shutter fertilizer plants on high gas prices - 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OCI agreed in June to merge with ADNOC to set up an Abu Dhabi-based JV\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598996,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/16\/adnoc-oci-nv-in-talks-to-combine-middle-east-fertilizers-businesses\/","url_meta":{"origin":572924,"position":2},"title":"ADNOC, OCI NV in talks to combine Middle East fertilizers businesses","author":"enterpriseam admin","date":"16 June 2019","format":false,"excerpt":"M&A WATCH- ADNOC, OCI NV said to be in talks to merge Middle East fertilizers businesses: Abu Dhabi National Oil Company (ADNOC) is in talks with Nassef Sawiris\u2019 OCI NV to explore the possibility of merging their Middle East fertilizers businesses, Bloomberg reports, citing unnamed sources. The assets include a\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596653,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/maatouk-bassiouny-legal-counsel-to-adnoc-in-oci-nv-fertilizer-business-merger\/","url_meta":{"origin":572924,"position":3},"title":"Maatouk Bassiouny legal counsel to ADNOC in OCI NV fertilizer business merger","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"Matouk Bassiouny is acting as local counsel to Abu Dhabi National Oil Company (ADNOC) in the merger of ADNOC fertilizers business into OCI NV\u2019s nitrogen fertilizers production platform in the Middle East and North Africa, the law firm said in a statement (pdf). OCI NV, meanwhile, hired Cleary Gottlieb Steen\u2026","rel":"","context":"In &quot;Law&quot;","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574262,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/industry-requests-another-cut-in-gas-prices-to-usd-3-5-mmbtu\/","url_meta":{"origin":572924,"position":4},"title":"Industry requests another cut in gas prices to USD 3.5\/mmbtu","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"Industrial players still want to pay less for natural gas\u2026 Chemicals and fertilizer manufacturers are raising the issue of lowering gas prices once again, with Chemical and Fertilizers Export Council passing on a request to the Trade and Industry Ministry to lower the price of gas to USD 3.5\/mmbtu, Khaled\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/39.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557419,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/e-finance-to-ipo-this-fall\/","url_meta":{"origin":572924,"position":5},"title":"E-Finance to IPO this fall","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"E-Finance, the state-owned fintech platform and digital payment infrastructure provider could become the second company to IPO on the EGX this year after formally announcing its intention to go ahead with a public share sale in 4Q2021. 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