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Iran to build refineries in South American countries

Business Materials 9 May 2022 14:46 (UTC +04:00)

TEHRAN, Iran, May 9. Iran is signing energy deals with Venezuela, Nicaragua, and Cuba, member of Iran Parliament's Energy Commission Hossein Hosseinzadeh told Trend.

He said the deals would include building new refineries.

The deals are being made by Iran's Oil Minister Javad Owji, who is on a working visit to a number of countries, accompanied by a high-ranking delegation.

Iran is looking to promote oil and gas cooperation with these visits.

"The Iranian delegation has negotiated energy deals with the three countries, and signed agreements and memorandum of understandings," said Hossein Hosseinzadeh.

He went on to add that the agreements mainly focus on building refineries and development of oil and gas fields in these countries.

Iran will reportedly not just help with construction of new refineries but also with repairing equipment, especially in Venezuela, which currently imports condensate from Iran.

Meanwhile, Hossein Hosseinzadeh said Iran and the three mentioned countries would jointly produce and export oil and gas products.

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