• Energy

    2m Iranian Parts, Equipment Installed in Latam Refineries

    About 2 million Iranian parts and equipment have been installed in refining plants of Latin American countries, the director of the National Iranian Oil Refining and Distribution Company said.

    “NIORDC was the first company, among the Oil Ministry’s subsidiaries, to implement such projects and our expert groups participated in the renovation of refineries in Latin American countries,” Jalil Salari was also quoted as saying by ISNA.

    “Visiting our industrial complexes and knowledge-based companies and getting familiar with the specialized and production capacities of Iran, expert teams from Latin American countries have come to the conclusion that Iran's facilities and equipment comply with global standards,” he added.

    The official noted that in addition to NIORDC, several manufacturing companies have produced the parts and equipment, and transferred them to the targeted countries.

    “Chemicals and catalysts produced in Iran have also been tested and approved in Latin American countries. This has made it possible for them to process crude oil in their refineries. As a result, the refineries, which had structural problems, have been revived,” he said.

    During the recent presidential visit to Latin America, more agreements were signed with Venezuela, Nicaragua and Cuba.

     

    Cooperation With Venezuela

    Iran and Venezuela have signed new memorandums of understanding to expand bilateral cooperation in oil and gas industry.

    The MoUs include the development of oil and gas fields, the overhaul of refineries to maximize their capacity, the renovation and reconstruction of petrochemical complexes with Iranian technical services and equipment to raise output and modernize loading dock and oil terminal, as well as increasing the export of oil, gas condensate and petroleum products.

    Tehran has strengthened ties with Caracas in recent years, providing crude and raw materials for Venezuela's aging refining network and overseeing a project to modernize the largest refining complex in the country.

    Since 2020, the two countries have expanded cooperation, particularly in energy projects and oil swaps, helping the Caribbean nation ease the effect of Washington’s measures.

    Iran has so far delivered two domestically manufactured Aframax oil tankers to Venezuela.

    Aframax has a deadweight of about 100,000 tons and can carry 113,000 tons of crude oil equivalent to 750,000 barrels.

    Each 250-meter-long vessel is equipped with a 21,000-horsepower engine and three diesel generators that are capable of producing 900 kilowatts of electricity.

    The delivery has been part of arrangements between the two countries to counter American sanctions targeting their oil sectors.

    According to a contract signed by the two sides, Iran will build and deliver two more oil tankers to Venezuela.

    Due to their favorable size, Aframax tankers can serve most ports in the world. These vessels serve regions that do not have very large ports or offshore oil terminals to accommodate very large crude carriers and ultra-large crude carriers.

    The construction of Aframax oil tankers based on international standards is indicative of Iran's technological prowess in the field.

    The tankers were manufactured by the Iranian Marine Industrial Company (Sadra), whose shipbuilding yards are situated along the Persian Gulf coast in Bushehr Province. Founded in 1968, it has established itself as a leading shipbuilding and ship repairing company in Iran. It is also active in offshore oil and gas development.

    Iran has also sent five tankers to Venezuela in recent years, delivering 1.53 million barrels of Iranian gasoline to the Latin American country.

    After the collapse of Venezuela's oil refining industry and 2019 sanctions imposed by the United States preventing fuel suppliers from sending gasoline to Venezuela, the country experienced a chronic shortage of gasoline.

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