Middle East Economic Survey


No 15



Iran And Venezuela Agree To Cooperate On Oil And Gas Projects

During a visit by Venezuelan President Hugo Chavez to Iran on 4 April, the National Iranian Oil Company (NIOC) and Venezuelas state firm PDVSA agreed to extend their energy cooperation with a series of oil and gas projects. One calls for the construction of Venezuelas first LNG plant by a joint venture company set up by NIOC and PDVSA. Preliminary estimates put the cost of the...