Iran reviews petrochemical exports to Europe

TEHRAN, Dec. 13 (MNA) – Referring to the fall in global oil prices, an NPC official said Iran’s petrochemical export to European markets is not currently competitive although majority of Iranian petrochemicals are exported to other markets.

Production Control Manager of National Petrochemical Company (NPC) Ali Mohammad Bossagh Zadeh explained Iran’s plans to export petrochemical and plastic products to European countries in the post-sanction era adding “the export process depends on the competitive price in every region.”

“We seek to classify costumers in order to benefit from all markets,” said the official underlining “carrying cost marks another crucial issue with regard to exporting petroleum products to various markets including Europe.”

Bossagh Zadeh said any petroleum product that goes farther brings about more carrying costs and needs to be competitive; “accordingly, as long as oil prices follow a downward trend, petrochemical production in Europe will be cheap since petrochemical products are produced using crude oil.”

Emphasizing that Iranian petrochemical exports to Europe are not competitive in the current situation, he concluded “we will be able to compete only when crude oil becomes expensive.”
 

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News Code 112771

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