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Reuters first to report that Iran to start revamp at Venezuela’s largest refining complex within weeks

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Reuters first to report that Iran to start revamp at Venezuela’s largest refining complex within weeks

6 February 2023, 12:00 am

1 min read

-UNDATED FILE PHOTO- An oil worker is seen at Jose refinery cargo terminal in Venezuela in this undated file photo. [Venezuela said on April 3, 2006, it assumed control of two oil fields operated by Total of France and Italy's Eni and vowed to win any international legal claims triggered by the takeovers. The move came after the two companies failed to reach an agreement with the government to transfer their operating contracts to new joint ventures or "mixed companies" giving state oil firm PDVSA a majority stake.]

Reuters was first to report that state firms from Iran and Venezuela are soon to start a 100-day revamp of the South American nation’s largest refining complex to restore its crude distillation capacity. Sources said the effort by state oil company PDVSA and the National Iranian Oil Refining and Distribution Company to boost fuel output at the Paraguana Refining Center marks a step toward ending Venezuela’s reliance on U.S. refinery technology.