TEHRAN – Iran and Venezuela plan to construct an oil refinery in Syria, Petropars deputy director for international affairs said here on Tuesday.

SHANA quoted Mohammad-Ali Talebi as saying that, “the two countries have set up VENIROGC joint company to undertake joint projects in third countries.”
“Launching an oil refinery in Syria will be the company’s first project,” he explained.
Talebi went on to note that, “Syria and Malaysia will also take part in the project.”
VENIROGC also is studying the feasibility of launching crude oil storage facilities in China and Africa,” he said.
“VENIROGC is not allowed to carry out any projects in Iran and Venezuela,” he explained.
Iran and Venezuela signed three memorandums of understanding in the energy sector in Tehran on September 6.
Based on an agreement between the two sides, Tehran will import gasoline from Caracas if the West imposes sanction on Iran.
Based on two other agreements, Venezuela and Iran will both invest $760 million in each other’s energy sectors.
Venezuela’s State oil company Petroleos de Venezuela SA (PDVSA) Company will finance ten percent of the required amount for carrying out the development plan of Iran’s South Pars gas field’s phase 12, SHANA reported.
Tehran also pledged to invest same amount of capital in the development of Venezuelan oil field Dobokubi.
Venezuela agreed to invest in the exploratory operations and development of 12 Iranian oil blocks in July.
Iran is already one of Venezuela’s partners in the development of Ayacucho oil field in Venezuela’s Orinoco Belt. The two countries will invest $4 billion in the joint project.
Iran and Venezuela also signed an agreement to develop a new oil field in the Latin American country during Venezuelan Energy Minister Rafael Ramirez’s visit to Tehran in April.
According to the agreement Iran’s Petropars Company will develop the oil field.
During Ramirez’s meeting with the Iranian Former Oil Minister Gholam-Hossein Nozari, the two ministers also discussed the joint construction of two petrochemical production units, one in Iran and the other in Venezuela.
The two OPEC members also have agreed to establish a joint shipping company for transporting oil products