The agreements have been signed between Iranian Oil Minister Javad Owji and his Venezuelan counterpart, Pedro Rafael Tellechea , throughout a ceremony in Caracas, additionally joined by Venezeual’s Govt Vice President Delcy Rodríguez.
The agreements cowl the event of oil and fuel fields, the reconstruction and renovation of Venezuelan oil refineries with the purpose of maximizing the capability of these amenities.
Additionally they give attention to the reconstruction and modernization of Venezuelan petrochemical complexes through Iranian technical providers, engineering and tools, in addition to the overhaul and modernization of the loading docks and oil terminals.
The 2 sides additionally reached agreements on the commerce and export of oil, fuel condensate and petroleum merchandise.
Iran and Venezuela have been consolidating their financial cooperation with the objective of circumventing the American sanctions.
Amongst different issues, Tehran has been offering crude and uncooked supplies for Venezuela’s ageing refining community, in addition to overseeing a venture to modernize the most important refining complicated within the Latin American nation.