Global food demand to give Gulf’s liquids-to-chemicals strategy a leg up
To:
Al-Monitor Readers
From:
Sebastian Castelier
Freelance journalist covering Gulf economies
Date:
Dec. 27, 2023
Bottom Line:
Abu Dhabi National Oil Company (ADNOC) agreed this month to buy European chemical producer OCI’s entire 50% stake in Abu Dhabi-based Fertiglobe, the largest Middle Eastern nitrogen fertilizer producer. The move falls within Gulf countries’ strategy to export a greater share of their fossil fuel resources in the form of chemicals, of which the agrochemical sector is a key pillar. Agrochemicals include inorganic fertilizers that provide additional nutrients to crops and pesticides that protect seeds and crops from insects, bacteria, fungi, etc.