,Abbas Shari-Moqaddam

Petchem sector to compensate oil price fall

Head of Iran National Petrochemical Company Abbas Sheri-Moqaddam

Head of Iran National Petrochemical Company Abbas Sheri-Moqaddam

TEHRAN March 11(Shana)–The head of Iran’s National Petrochemical Company (NPC) has said that petrochemical products can compensate for losses from oil price slump.

“The petrochemical market is not much affected by crude oil prices,” Abbas Sheri-Moqaddam said.

“Despite the fall in oil prices, the price of urea fertilizer has increased due to its growing consumption,” he added.

Sheri-Moqaddam, however, said that the demand for polymer and petrochemical products are rising in developing countries due to their growing demand for these products.