First Iranian-Built Overseas Refinery Opened in Venezuela
Iranian Oil Minister Jawad Owji announced that El Palito refinery was launched as the Islamic Republic’s first overseas Iranian-built refinery in Venezuela.
The refinery has a capacity of refining 100 thousand barrels per day from Venezuela crude oil.
Owji added that this project will be followed by the construction of other refineries in other countries.
He made the remarks on the sidelines of a national conference which was held on Sunday, October 16, at the headquarters of the National Iranian Oil Products Distribution Company.
That was a long-awaited dream that came true after 43 years, he highlighted.
Iran signed a contract worth 116 million dollars with Venezuelan state oil firm PDVSA in May to repair and expand the refinery.
Iran has also been swapping Venezuelan heavy oil and other commodities for gasoline, condensate, refinery parts, and technical assistance while providing the country with lighter oil to be used as diluent.
In May, the National Iranian Oil Engineering and Construction Company signed a contract worth 110 million euros to repair Venezuela's smaller 146,000-barrel-per-day refinery.
Back in June, during a visit to Tehran, Venezuelan President Nicolas Maduro announced the signing of a 20-year cooperation plan with Iran to expand joint cooperation in various sectors, such as oil, banking, and economics.
4155/g
