Venezuela hosts Iran’s first-ever overseas refinery

Tehran, IRNA – As the Iranian government under President Ebrahim Raisi is seeking a change in the country’s absolute raw sale of oil, reports say that Iran has begun a strategic refinery owning project in Venezuela. Iran daily newspaper quoted an informed source in the Ministry of Petroleum that Iran’s first overseas refinery has begun operating in the Latin American country. The source said that, after receiving technical and engineering services, the capacity of the refinery has increased by several times from 15,000 b/d to 90,000 b/d. The project aims to thwart unilateral sanctions on Iran, the official said, adding that by means of such measures, Iran has been able to find new markets for more oil sales. An Iranian Member of Parliament said earlier this month that Iran had signed two contracts to build oil refineries for itself in foreign countries. Parviz Mohammadnejad, a member of the Iranian Parliament’s Energy Commission, said the lawmakers have repeatedly recommended that the Oil Ministry should take swift action to attract foreign investment and construct extraterritorial refineries. Follow us on Twitter @IrnaEnglish