Iran, Venezuela Sign Energy, Trade Co-operation Agreements, Press TV Says

Iranian and Venezuelan officials signed yesterday 11 agreements promoting co-operation in areas including oil, natural gas, textiles, trade and public housing, Press TV reported, without saying where it got the information.

Iran and Venezuela also agreed to set up a joint oil shipping company and jointly construct petrochemical plants, said the state-run news channel’s website. Venezuela’s state oil company Petroleos de Venezuela SA will also participate in the exploitation of Iran’s South Pars natural gas field, the report said without giving details of the projects.

The signing ceremony took place in Tehran late yesterday at the end of the two-day visit of President Hugo Chavez to the Iranian capital, according to Press TV.

To contact the reporter on this story: Ladane Nasseri in Tehran at lnasseri@bloomberg.net.

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net

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