OCI opens truck facility – Alert
OCI Partners LP reports that has implemented a state-of-the-art ammonia truck loading facility on-site at its wholly owned subsidiary OCI Beaumont LLC. At present, the LP sells ammonia via pipeline and barge. The new ammonia truck loading facility will help it diversify its customer base and generate higher netback prices for a portion of its ammonia sales volumes.
In other news, the company reported a drop in first quarter net income to $900,000 on revenues of $38 million, down from the year-ago $29 million and $100 million, respectively. This was due to both ammonia and methanol units being offline two months during the quarter to accommodate capacity upgrades and other initiatives.