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Fertiglobe

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Latest Fertiglobe DevelopmentsAI Insights

Fertiglobe, headquartered in Abu Dhabi, faces a challenging period with a 16 percent revenue drop to 1.05 billion dollars in the first half of 2024, primarily due to lower sales. Net profit attributable to owners also declined by 39 percent year-on-year to 131 million dollars. The company is the largest nitrogen fertiliser producer in the Middle East and North Africa and is recognised as an early mover in sustainable ammonia1.

The Abu Dhabi National Oil Company (Adnoc) is set to enhance its stake in Fertiglobe significantly by finalising the acquisition of OCI Global’s 50 percent plus one share. This transaction increases Adnoc’s shareholding in Fertiglobe to 86.2 percent2.

In alignment with Europe's decarbonisation goals, Fertiglobe secured a global bid to supply renewable ammonia to the European Union. Commencing in 2027, the company will deliver 19,500 tonnes, with potential to expand to 397,000 tonnes by 20333.

Meanwhile, French utility company Engie targets the Middle East for its renewables expansion, seeking collaborations to produce green hydrogen, which could synergise with projects like those undertaken by Fertiglobe4. Adnoc's broader strategy includes significant acquisitions and partnerships, aiming to increase its influence in natural gas and related sectors globally. Fertiglobe’s acquisition is part of this strategic expansion5.

Fertiglobe Overview

Majority-owned by Abu Dhabi’s Adnoc, Fertiglobe produces a number of fertiliser and related products: granular urea, merchant ammonia, renewable and low-carbon ammonia and diesel exhaust fluid.

Fertiglobe was formed as a strategic partnership between chemicals companies OCI Global and Fertil in September 2019.

Dutch company OCI Global’s Middle East and North African business had developed from 2005, composed of stakes in two Egyptian and one Algerian nitrogen-based fertiliser businesses, namely Ebic, Egyptian Fertilizers Company and Sorfert Algérie.

Fertil was established in 1980 as a joint venture between Adnoc and Total, and initially produced urea and ammonia. Adnoc acquired Total’s stake in 2018.

In 2021, Fertiglobe went public on Abu Dhabi’s ADX exchange and bought an additional 15 per cent stake in Egypt’s Ebic, increasing its shareholding to 45 per cent.

In 2023, Adnoc paid $3.62 billion for OCI Global’s 50 per cent stake in Fertiglobe, and by the following year it had become the majority shareholder.

Fertiglobe News

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Adnoc to complete $3.6bn Fertiglobe stake purchase today

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Abu Dhabi’s Fertiglobe revenue hit by lower sales

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Fertiglobe to supply renewable ammonia to Europe

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