Iran and Venezuela to cooperate in oil and gas sector

Tehran and Caracas agreed to increase cooperation in the oil and gas sector following a meeting between Iranian Oil Minister Javad Owji and Venezuelan Vice President Delcy Rodriguez, Iranian Tasnim reports.

According to Tasnim, Iranian and Venezuelan politicians signed a number of relevant agreements that provide for cooperation and mutual understanding in the field of energy production.

Besides, Iran and Venezuela agreed to work together to modernize and reconstruct Venezuelan oil refineries and petrochemical complexes. Tehran expressed its readiness to provide technical and engineering assistance in order to significantly increase the capacity of enterprises.

In addition to this, it was agreed that Caracas, together with Tehran, would cooperate in oil exports, as well as in the sale of gas condensate and by-products of oil production.