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OCI Global reported a net cash position of $1.08 billion in Q1 2026 following asset sales, while evaluating a potential transaction for OCI Nitrogen.
OCI Global reported a net cash position of approximately $1.08 billion as of late May 2026, driven by the completion of several major asset divestments during the first quarter [1]. The company finalized the sale of OCI Ammonia Holding to AGROFERT and handed over its Beaumont New Ammonia facility to Woodside, while fully monetizing its stake in Methanex [1].
Key takeaways
OCI Global executed a series of strategic transactions during the period, significantly strengthening its balance sheet. Following the handover of Beaumont New Ammonia to Woodside on March 25, 2026, the company received $470 million in deferred consideration, subject to outstanding construction obligations [1]. OCI continues to estimate the total cost to completion for the project at approximately $1.8 billion, though it noted that residual cost exposure has narrowed meaningfully as the majority of subcontractor claims are now settled [1].
Additionally, the company completed the sale of 100% of its equity interests in OCI Ammonia Holding to AGROFERT on March 31 for a transaction value of EUR 290 million, with net proceeds expected to be approximately $319 million [1]. OCI also fully unwound its equity position in Methanex, selling 9,944,308 shares at a net weighted average price of $54.56 per share, which was 21% above the entry price [1]. These moves resulted in total net proceeds from the Methanex stake of approximately $543 million [1].
The company’s residual operating business, OCI Nitrogen, generated adjusted EBITDA of $52 million on sales volumes of 539,000 tonnes, compared to 484,000 tonnes in the first quarter of 2025 [1]. Despite a supportive pricing environment, margins remained constrained by higher natural gas input costs, and the quarter experienced a temporary operational disruption at an ammonia line that has since been restarted [1]. Corporate costs for the quarter were $18.5 million, remaining above the previously guided run-rate due to ongoing strategic processes, including Enterprise Chamber proceedings and the potential sale of OCI Nitrogen [1].
Looking ahead, the company stated that performance remains subject to external factors such as geopolitical developments and energy market conditions [1]. The Enterprise Chamber appointed directors indicated they
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 2, 2026 · How we report
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