Venezuela, Uruguay to Host Iranian Refineries

Venezuela, Uruguay to Host Iranian Refineries

TEHRAN (Tasnim) – A lawmaker disclosed more details of contracts to build Iranian oil refineries in foreign countries, saying two of such plants will be constructed in Venezuela and Uruguay.

MP Mohammad Reza Mirtajeddini told Tasnim that the Iranian Oil Ministry has signed contracts with Venezuela and Uruguay to build refineries in the two Latin American states.

He said Iran will deliver input to those refineries, hold a stake in the plants, and provide technical and engineering services for running them.

A few days ago, a member of the Iranian Parliament’s Energy Commission said Tehran has signed two contracts to build oil refineries for itself in foreign countries after the MPs recommended that the Oil Ministry should take swift action to attract foreign investment and construct “extraterritorial refineries”.

Parviz Mohammadnejad said that constructing refineries outside Iran will improve the country’s international relations in the energy sector, help Tehran generate a high and sustainable currency income, and allow for easier access to customers without any barriers.

“Venezuela has many refineries which require our country’s up-to-date knowhow and technology. We can take advantage of such a capacity to achieve our purposes in and outside the region. We can have access to the customers without paying additional costs in this way, because the extra and additional expenses for the export of oil are very high at present,” he added.

During a visit to Tehran in June, President of Venezuela Nicolas Maduro and the oil minister of Iran weighed plans to strengthen cooperation between the two countries in various fields relating to the energy, oil and petrochemical industries.

Top Economy stories
Top Stories