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Iran Oil Minister Visits Venezuelan Counterpart

OIL

Iranian Oil Minister Javad Oji left Tehran for Caracas on Wednesday for talks with his Venezuelan counterpart Pedro Rafael Tellechea according to IRNA reports.

  • The ministers plan to discuss joint refining, engineering and petrochemical projects, including the overhaul of Venezuela's refineries.
  • Iranian condensate has been crucial for Venezuela to dilute its heavy barrels for export while it was under sanctions. It may need to receive these flows again in April if US threats to not renew the current sanctions reprieve remain in place.

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