The Venezuelan state oil company, PDVSA, began the process of importing crude oil from Iran in exchange for the distribution of the oil processed through the company National Petroleum of Iran (NIOC), which consolidates the agreement signed in 2021 by both nations.
The idea of the process is that Iranian heavy oil passes through Venezuelan refineries so that oil exports from the South American country continue. Both countries are in the midst of political sanctions by the United States.
Despite US restrictions, last year Tehran and Caracas agreed to an exchange that has allowed PDVSA to import “Iranian condensate” to process its extra-heavy oil.
The exchange measure is part of the recovery process of the South American country’s oil industry, as announced last Friday andhe Vice President of Economy, Tareck El Aissami, led by Petróleos de Venezuela SA (PDVSA).
The Venezuelan authorities announced that this week about 400,000 barrels of Iranian crude will be unloaded this week, added to the 200,000 that were delivered in mid-April to the second largest refinery in Venezuela, Cardón.
Minister El Aissami also pointed out on his social networks that the reforms promoted by President Nicolás Maduro are part of what he called “the concepts of Resistance, Rebirth and Revolution”.
See also: Iranian ship arrived in Venezuela to load oil from the South American country
Thus, the official maintained that it is possible to overcome the difficulties caused by “blockades, persecution and sabotage, as well as the ability to adapt to new operational methods of work.”
Similarly, El Aissami stressed that the leadership and cohesion of the Organization of Petroleum Exporting Countries (OPEC) which, according to him, guarantees the stability of the international energy market, “in the midst of these complex times.”
PDVSA is one of the Venezuelan sectors that has been most affected by the US trade blockades.
The official affirmed that his country plays an essential role within the Organization of Petroleum Exporting Countries, which he supported in policies to balance international market prices during the pandemic.
That is why at the end of last week the Secretary General of OPEC, Mohammad Barkindo, arrived in the country on an official visit with the purpose of strengthening cooperation with Venezuela. He was received by the Ministers of Productive Agriculture and Land, Wilmar Castro Soteldo, and the Minister of Science and Technology, Gabriela Jiménez-Ramírez.
*Gustavo A. Delvasto D. contributed to the writing of this note with the support of the Prensa Latina agency.
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