Global Business in Iran Database

In-depth metrics and analysis of Iran's international economic partnerships.

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Venezuela to Aid Iran's Energy Industry in Case of Sanctions


Iran and Venezuela signed several MoU.  Firstly, Venezuela agreed to export 20,000 barrels of petrol/day starting in October 2009 if the UN imposes sanctions. This is valued at $800 million.  Secondly, Venezuela's state-owned oil company Petroleos de Venezuela (PDVSA) will help to develop Iran's South Pars oil field by investing $760 million Phase 12.


  • Current Status:
  • Discussion Date:
  • Contract Date: Sun, 2009-09-06
  • Completion Date:


1. Wall Street Journal, "Venezuela, Iran In $760M Oil Invest Deals - Agencies " 7 September 2009. Available at

2. "Iran, Venezuela sign 3 energy MoUs", 8 September 2009. Available at

All projects by Petróleos de Venezuela, S.A. (PDVSA)