May 13, 2022, 7:22 PM
Journalist ID: 1006
News Code: 84751266
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Iran to fix Venezuela's PDVSA El Palito refinery

Tehran, IRNA – National Iranian Oil Engineering and Construction Company on behalf of the National Iranian Oil and Distribution Company (NIORDC), signed A fundamental repairs contract and the launch of PDVSA El Palito refinery in Venezuela with a sum of 110 million Euros.

"The agreement came after recent negotiations and investigations carried out  with the presence of  Iran’s Oil Minister Javad Owji, Deputy minister and ceo of the National Iranian Oil and Distribution Company  and managing director of National Iranian Oil Engineering and Construction Company  in venezuela.

The deal aimed at repairs , commissioning and completion of a refinery capacity of 140,000 barrels per day in Venezuela ( currently operating with 50 % of its capacity ), Farhad Ahmadi, managing director of the  National Iranian Oil and Distribution Company (NIORDC) said .

The project will be financed by Naftiran Intertrade Company  whose financial contract is signed between the NICO and the Venezuelan company, he added .

Ahmadi said  that the crude oil feed of the refinery will be provided by the participation of National Iranian Oil Company  through NICO company.

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