El Palito Refinery in Venezuela. Photo: PDVSA.
This Sunday, October 16, the Iranian oil minister, Javad Owji, reported on the start-up of the El Palito refinery in Venezuela, after completing its total restoration.
The Iranian official explained, according to Al Mayadeen, that the refinery located in Puerto Cabello, Carabobo state, now has the capacity to process some 100,000 barrels of crude oil per day.
The restoration contract agreed to between the two countries, for an amount of $114 million dollars, signed between the company Petróleos de Venezuela (PDVSA) and the National Petroleum Engineering and Construction Company of Iran, has been completed.
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According to Owji, the realization of such a project was a dream of many years, made possible thanks to the efforts of the Iranian company team in charge and its CEO Jalil Salari. Owji also noted that Venezuela is a starting point for new extraterritorial perspectives in the sector.
Presidents Ebrahím Raisi and Nicolás Maduro had already signed a bilateral strategic cooperation agreement in June that will be in force for 20 years, which includes cooperation agreements in the fields of oil, petrochemicals, tourism, and culture.
Iran, an OPEC member like Venezuela, has been a key player in the recovery of the Venezuelan oil infrastructure hit by the US blockade and embargo.
Translation: Orinoco Tribune
OT/KW/SL
Misión Verdad
Misión Verdad is a Venezuelan investigative journalism website with a socialist perspective in defense of the Bolivarian Revolution
