Meeting the needs of oil refineries and petrochemical plants in Venezuela is a good economic opportunity for Iran, Iranian Parliamentary Commission on National Security and Foreign Policy Vahid Jalalzadeh said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 14th June, 2023) Meeting the needs of oil refineries and petrochemical plants in Venezuela is a good economic opportunity for Iran, Iranian Parliamentary Commission on National Security and Foreign Policy Vahid Jalalzadeh said on Wednesday.
"Providing the technological, technical and engineering needs of the Venezuelan refineries and petrochemical plants is a good economic opportunity for Iran... The help of such reliable and powerful countries as the Islamic Republic (of Iran) in carrying out the repair of Venezuelan refineries and petrochemical plants will be in the interests of both countries, and will be important and a successful step in energy diplomacy," Jalalzadeh was quoted as saying by IRNA news agency.
Important steps had been taken in recent years with regards to exporting technical and engineering services to Cuba, Nicaragua and Venezuela, the official said.
He also mentioned projects related to the assembly of tractors, the construction of a cement plant, housing, and the construction and repair of refineries in Venezuela, which earned Iran a good income in foreign Currency.
To mark Iranian President Ebrahim Raisi's ongoing trip to Latin American countries, a regular shipping line will be organized between Iran and Venezuela, allowing Iranian companies to send their goods to Latin American countries, including Venezuela, Cuba and Brazil, on a permanent basis, Jalalzadeh stated.
Tehran and Caracas signed three contracts for the restoration and modernization of offshore petroleum plants, the development of Venezuela's Jose oil terminal, as well as providing gas compressor stations with equipment, the Fars news agency reported later in the day.
An Iranian company will reportedly carry out maintenance for a number of facilities at a Venezuelan ammonia producing complex and will later recoup its investment by participating in sales of its production, the report said.
The development of Venezuela's Jose oil terminal reportedly provides for an increase in the capacity of the terminal's storage facilities, completion of the construction of its reservoirs, improvement of transportation systems, as well as an increase in loading capacity, with Caracas being fully responsible for funding the project. This will be the first contract for Iranian companies in the EPC (engineering, procurement and construction) format, Fars added. The contract is expected to facilitate the exchange of oil, gas condensates and petroleum products between the two countries.
Under the third deal on gas compressor stations, an Iranian high-tech company will produce and install equipment for five such stations in Venezuela, including automation systems, telecommunications and precision instruments, the report said.
On Tuesday, Raisi visited Venezuela as the first stop of his Latin American tour, which will also include Nicaragua and Cuba. Venezuelan President Nicolas Maduro said that 25 agreements on cooperation and investment in the production and processing of oil and gas, mining, metallurgy, and the creation of a joint shipping company have been signed.
