Iran (IMNA) - Oil Minister Javad Owji and his Venezuelan opposite number Pedro Tellechea inked "numerous MoUs" earlier in the day in Caracas in the presence of Venezuelan Vice-President Delcy Rodriguez.
Owji has been in Caracas since earlier this week in order to advance a number of bilateral energy deals between Iran and Venezuela.
Shana stated that the MoUs signed on Sunday included projects on the development of oil and gas resources, the refurbishment of refineries and petrochemical complexes, and the trade of oil.
According to the statement, Iran has agreed to carry out maintenance projects in Venezuelan oil refineries to increase their output.
As reported by the article, Iran has also committed to offer technical and engineering assistance, as well as equipment, for the restoration and modernization of Venezuela's petrochemical plants, oil export terminals, and gas condensate facilities.
In recent years, Iran and Venezuela have pushed to deepen their energy cooperation in order to establish a unified front against US sanctions placed on their economies.
Iran has provided vital equipment and services to Venezuela in order to improve oil refineries and respond to a shortfall of motor fuels caused by US sanctions.
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