Iran receives Venezuela's largest refinery from Maduro

The Paraguana Refining Center will be renovated by the National Oil Refining and Distribution Company of Iran. The affinity between the two dictatorships is booming in the energy and defense sectors

Iran and PDVSA already had a deal in place for 110 million euros in May 2022 to renovate El Palito, the smallest refinery in Venezuela with a daily output capacity of 146,000 barrels. It will cost €460 million to renovate Paraguaná, which has a daily capacity of 955,000 barrels. During the recent visit of the Iranian foreign minister, the agreement was finalized in Caracas. 400 Iranians will labor alongside 1,000 Venezuelan employees and contractors, while Chinese components and equipment will replace the US technology utilized in Paraguaná's construction.