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Abu Dhabi National Oil Company and Morocco's OCP Group signed an agreement to study a phased fertiliser joint venture with plants in the UAE and Morocco. The pact follows a long-term sulphur offtake partnership signed in December.
Adnoc also announced a plan to invest Dh165bn in refining and chemicals over five years.
A possible large fertiliser venture between two major phosphate and sulphur producers could expand future phosphate supply, but it is only an exploratory agreement with no near-term volume or price impact.
thenationalnews.comJennifer GnanaMay 15, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
