OCI Partners LP, which owns an ammonia and methanol complex in Beaumont, Texas, reported losses for both the fourth quarter and year ending Dec. 31, 2016.
The company posted a fourth-quarter net loss of $17 million on revenues of $66 million, compared to year-ago net income of $15 million and revenues of $88 million. The company cited lower ammonia prices, though it noted that those are up in first-quarter 2017.
For 2016, the company reported a net loss of $51 million on revenues of $258 million, compared to 2015 income of $52 million on revenues of $309 million.
Majority owner, OCI NV, which holds 79.88 percent of OCI Partners made a buy-out offer for the remaining shares in December 2016. The deal has not been finalized.