Another Iranian Tanker Delivers Condensate to Venezuela

This Wednesday, October 28, another Iranian vessel unloaded 2.1 million barrels of condensate at a Venezuelan port, under a pact signed between the two countries.

The Iranian oil tanker Dorena, which arrived on Monday in Venezuelan waters, was expected to begin unloading this Wednesday at a port of the state-owned Petroleos de Venezuela (PDVSA) oil and natural gas company, British news agency Reuters reported on Tuesday, citing a PDVSA document.

This is the second shipment of Iranian condensate that has arrived in Venezuela, according to the document, which does not detail the name of the supplier.

The US-sanctioned state oil companies of both countries, PDVSA and the National Iranian Oil Company (NIOC), last month signed a six-month contract, now in its first phase, to exchange Iranian condensate for Venezuelan heavy crude as part of a bilateral strategy to cope with inhumane and illegal US coercive economic measures.

RELATED CONTENT: Report: Venezuela and Iran Reach New Agreement on Oil Industry

Within the framework of this agreement, according to Reuters, the first cargo sailed from Venezuela in September on the Iranian oil tanker Felicity. Iran then supplied PDVSA with a first shipment of condensate on the tanker Dino I, which sailed back last week with Venezuelan crude.

Even under Washington’s watchful eye, Iran and Venezuela have strengthened their cooperation since last year. The Islamic Republic has sent food, refinery parts, condensate and fuel, receiving crude oil and other raw materials from Venezuela in return.

Earlier this month, at a joint press conference with his Venezuelan counterpart Felix Plasencia in the Iranian capital of Tehran, Iran’s Foreign Minister Hossein Amir-Abdollahian announced that the two countries will sign a 20-year cooperation agreement when Venezuelan President Nicolás Maduro visits Tehran in “the coming months.”

RELATED CONTENT: Iranian Oil Supertanker Leaves Venezuela with 2 Million Barrels of Heavy Crude

Last month, a US Treasury Department spokesman said Washington was “concerned” about reports that Iran and Venezuela had reached significant agreements to increase their cooperation in the oil sector.

Iran’s supply of condensate may help Venezuela increase its crude exports, as the South American country needs the revenue to improve an economy suffocated by the US-led economic blockade.

Although Venezuela possesses immense oil reserves, light oil or condensate is needed for the production of gasoline from Venezuelan heavy crude.

Both Iran and Venezuela have managed to resist economic pressures, gradually finding ways around them.

 

 

Featured image: Workers with Iranian and Venezuelan flags celebrate the arrival of the Iranian oil tanker Fortune at a Venezuelan refinery. Photo: AFP.

(Hispan TV) with Orinoco Tribune content

Translation: Orinoco Tribune

OT/SL/JRE

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