Page 11 - DMEA Week 17 2021
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DMEA REFINING DMEA
Bu Ali Sina refinery says benzene
production is 100% localised
MIDDLE EAST IRANIAN petrochemical companies have satis- programme in the previous Persian calendar
fied the domestic demand for benzene, accord- year (March 2020 – 2021). He added productiv-
ing to the country’s Bu Ali Sina Refinery. ity reached its maximum at the Bu Ali Sina plant,
The petrochemical company was quoted by having delivered 85,610 tonnes of petrochemical
NIPNA as saying that the country is already products in the twelve months (8% increase y/y).
meeting its own domestic needs, it stated. “This increase in production saved the coun-
Iran which previously imported the bulk of try from importing benzene as a strategic prod-
its benzene despite being a net exporter of crude uct, which is used as a base product in detergents
turned the tide during US sanctions on the coun- and hygiene products,” the commercial director
try redesigning its industry to meet demand and of the company, Sedagatzadeh said.
export to regional neighbours. He added that in the previous Persian cal-
Commercial Director of the Company, Ard- endar year the production of light fraction
alan Sedagatzadeh said, the complex was able to increased by 22%, heavy fraction by 7%, and
implement more than 100% of the production LPG production by 7%.
PETROCHEMICALS
Fertiglobe plans $7bn valuation for IPO
MIDDLE EAST ABU Dhabi National Oil Co. (ADNOC) and be the largest export-focused nitrogen fertilizer
chemicals producer Orascom Construction platform globally, and the largest producer in
Industries (OCI) are planning to launch an ini- MENA with an output capacity of 5mn tonnes
tial public offering (IPO) of their Fertiglobe joint per year of urea and 1.5mn tpy of merchant
venture (JV) at a valuation of $7bn. ammonia from facilities in Algeria, Egypt and
According to media reports, investment the UAE. Fertiglobe is the largest seaborne
banks Citigroup, Morgan Stanley, First Abu exporter of nitrogen fertilisers globally, and the
Dhabi Bank and HSBC have been appointed as largest nitrogen producer in the MENA region.
advisors for the planned listing in Abu Dhabi. Its business model is underpinned by a young
Earlier in the month, Reuters quoted sources asset base and a robust storage and distribution
as saying that banks had been invited to pitch to infrastructure with access to key ports on the
work on the IPO with the sale seen raising at least Mediterranean, Red Sea and Arabian Gulf.
$1bn. The news comes as the UAE is engaged in
The Fertiglobe JV was formed in 2019 and ongoing high-level talks with Japan about the
comprises the ammonia and urea assets of the establishment of a hydrogen supply chain while
two partners and companies EBIC, EFC, Sor- ADNOC is a signatory, alongside Mubadala
fert, and Fertil (formerly ADNOC Fertilizers). Investment Co. and holding company ADQ,
ADNOC holds a stake of 58% in Fertiglobe with of a memorandum of understanding (MoU)
OCI holding the remainder. to establish the Abu Dhabi Hydrogen Alliance
At launch, the partners said Fertiglobe would (ADHA).
Week 17 29•April•2021 www. NEWSBASE .com P11
