Reuters exclusively reported that Venezuela has agreed to a key contract to swap its heavy oil for Iranian condensate that it can use to improve the quality of its tar-like crude. As the South American country seeks to boost its flagging oil exports in the face of U.S. sanctions, the deal between state-run firms Petroleos de Venezuela and National Iranian Oil Company deepens the cooperation between two of Washington’s foes.
DealsEnergy
Reuters exclusively reports under U.S. sanctions, Iran and Venezuela strike oil export deal
25 September 2021, 2:37 pm 1 minute
Article Tags
Topics of Interest: DealsEnergy
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Middle EastNorth AmericaSouth America
Countries: IranVenezuela
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story