Iran and Venezuela inked memorandums of understanding (MOU) on the development of oil and gas fields, reconstruction of refineries and petrochemical complexes, and oil trade.







The documents and MoUs were signed in the presence of Iran’s Oil Minister Javad Owji and Venezuela's Vice President Delcy Rodríguez and Oil Minister Pedro Rafael Tellechea in Caracas.

The development of oil and gas fields and the reconstruction and renovation of Venezuelan oil refineries with the aim of maximizing the capacity of these complexes are among the issues mentioned in the memorandums signed between Iran and Venezuela.

Heading a delegation, the Iranian minister was officially welcomed by Venezuelan officials on Thursday.

His visit is aimed at promoting Tehran-Caracas cooperation in the downstream and upstream sectors.

Earlier, Iran’s Oil Minister Javad Owji had traveled to Venezuela to discuss ways to “strengthen energy relations” between the two friendly nations, according to the Latin American country’s foreign ministry.

In a statement released, the ministry said Owji has met with Venezuelan officials and visited the facilities belonging to the state-run energy firm PDVSA.

“The delegation stayed in Caracas until April 14, and maintained an intense work schedule, which included meetings and visits to PDVSA facilities, as well as meetings with government authorities,” the statement read.

By Mehr