The reopening of the El Palito refinery coincides with the arrival of the Iranian president to Caracas
Por: News Desk | https://new.thecradle.co/
Publicado: JUN 12, 2023
Operations have resumed at Venezuela’s El Palito oil refinery thanks to the help of Iran after nearly one year of being shut down.
El Palito has a production capacity of 146,000 barrels per day (bpd). The complex is undergoing major repair and expansion work as part of a 100-million-euro deal signed in May 2022 with the Iranian National Company of Petroleum Refining and Distribution (NIORDC).
The reactivation of the refinery is expected to alleviate fuel shortages afflicting the heavily-sanctioned nation.
In recent years, unstable operations, sabotage attempts, and frequent shutdowns in Venezuela’s 1.3 million bpd oil refining system have created intermittent fuel shortages.
As a result of the hybrid war waged on the country by the US and its allies, Venezuela’s oil output dropped from two million bpd in 2012 to just a few hundred thousand at the start of 2021.
To improve this situation, Iran has provided Caracas with fuel and diluents to convert its extra-heavy crude into an exportable class. Since 2020, the Islamic Republic has also supplied the Bolivarian Republic with spare parts and equipment to restore the fuel sector.
Iranian technical teams are also working to restore Venezuela’s largest oil refinery complex, the Paraguana Refining Center. The plan calls for combining Chinese and Iranian parts and equipment in a refinery built initially using US technology.
The reopening of El Palito coincides with the start of Iranian President Ebrahim Raisi’s Latin America tour.
Accompanied by the ministers of defense, foreign affairs, culture, health, and education, Raisi set off on 12 June from Tehran to Caracas at the official invitation of his counterpart Nicolas Maduro.
Last year in June, Venezuelan President Nicolas Maduro spoke of his hopes to “create an indestructible friendship for the future” between the people of Venezuela and Iran.
“I believe that between the two of us, we will create an indestructible friendship for the future of our people, and we will witness how our countries grow in the face of difficulties and how a new world is growing,” he said.
Maduro will host Raisi just a few days after meeting with Saudi Crown Prince Mohammed bin Salman (MbS) in Jeddah.
Fonte: https://new.thecradle.co/articles/venezuela-resumes-work-at-iranian-restored-oil-refinery
Por: News Desk | https://new.thecradle.co/
Publicado: JUN 12, 2023
Observatório da Energia 