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Comment on Venezuela and Iran to Revamp Massive Oil Complex After Visit by FM by Registrera
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Comments for Venezuelanalysis
News of the plan to revamp the Paraguaná Refining Complex comes on the heels of a visit by Iranian Foreign Minister Hossein Amir-Abdollahian where he met directly with Venezuelan President Nicolás Maduro, Vice-President Delcy Rodriguez and Oil Minister Tareck El Aissami. The 100-day plan to rehabilitate the Paraguaná Refining Complex, first reported by Reuters, will see state-owned firms Petróleos de Venezuela (PDVSA) and National Iranian Oil Refining and Distribution Company (NIORDC) cooperate to increase fuel production at the complex. Following the crash of oil prices and a years-long oil blockade, Venezuela has seen its oil production precipitously drop from a recent high of 2 million barrels per day (bpd) in 2017.