Iranian oil company produces over 1.7M refinery equipment items for Venezuelan refineries

(MENAFN) Jalil Salari, the head of the National Iranian Oil Refining and Distribution Company (NIORDC), has revealed that his company has produced over 1.7 million refinery parts and equipment items for Venezuelan refineries, which are now in operation. Salari noted that this significant milestone was achieved under President Ebrahim Raisi’s administration and marks NIORDC's first foray into offshore operations, despite the privatization of Iran’s refining sector.

Salari detailed that NIORDC took several steps to support Venezuela’s refineries, including establishing offices in Iran where Venezuelan experts were invited to visit. These experts observed Iranian manufacturing capabilities firsthand and tested samples of the equipment. Some parts were reverse-engineered, with Iranian teams traveling to Venezuela to examine existing components and develop new plans, resulting in the production and delivery of the 1.7 million items.

The restoration of the first Venezuelan refinery was completed in October 2022, and the El Palito refinery, with a processing capacity of 100,000 barrels per day, was officially launched. Iranian Oil Minister Javad Oji hailed this achievement as the realization of a 43-year-old dream and emphasized that it is part of a broader strategy to build similar refineries in other allied nations.

Additionally, Iran and Venezuela signed a USD116 million contract in May to repair and expand the refinery. Iran has also been involved in exchanging Venezuelan heavy oil for gasoline, condensate, refinery parts, and technical support, while supplying lighter oil as a diluent for Venezuelan heavy oil.

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