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Iran, Venezuela to establish joint oil company

Tehran, July 2, IRNA - Visiting Venezuelan President Hugo Chavez said on Monday that Iran and Venezuela have agreed to establish a joint oil company.

The Venezuelan president said in a joint press conference with his Iranian counterpart on Monday in Assalouyeh of Khuzestan province that the two countries have also agreed to establish an international import and export company.

Chavez said that he was impressed by the remarkable and large economic projects underway in Assalouyeh.

"Venezuelan officials are determined to create petrochemical industries in their country. Construction of various enterprises would enable us to put an end to the monopoly of the superpowers," he said.

Iran, Venezuela ink 3 contracts

Assalouyeh, Khuzestan prov, July 2, IRNA - Iran and Venezuela here Monday signed three contracts at the end of Venezuelan President Hugo Chavez's visit to Iran.

Iran's Oil Minister Kazem Vaziri Hamaneh and his Venezuelan counterpart inked a contract on cooperation in the field of energy and hydrocarbons.

The petrochemical cooperation is the subject of another contract signed by managing managing directors of National Iranian Petrochemical Company (NIPC) and that of Venezuela in presence of the two presidents.

The two presidents also inked a joint communique.

Ahmadinejad and Chavez also took part in a joint press conference in South Pars Special Economic Zone elaborating on the achievements of the Venezuelan president's visit to Iran.

Iran to build 7,000 houses in Venezuela

TEHRAN, July 2 (Mehr News Agency) - Tehran and Caracas inked a document that necessitates the private sector to build 7,000 residential units in Venezuela, said the industries and mines minister here on Monday.

Attending the 4th Iran-Venezuela Joint Economic Commission meeting, Alireza Tahmasbi and Venezuelan Minister of Basic Industries and Mining Jose Khan signed 11 documents.

Tehran and Caracas had already signed 181 documents and agreements, added Tahmasbi.

He added that the documents had been inked for oil, petrochemical, energy, housing, banking, heavy industries, mines and geology, economic, political, cultural, agricultural, fishery, transportation, and health sectors.

Khan said his visit to Tehran would strengthen strategic talks and strike a balance in economic, political, social and cultural ties between the two countries.

... Payvand News - 7/3/07 ... --

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