Iran Unveils Home-Made Catalyst for Venezuelan Refinery Amid US Sanctions

An Iranian company, sponsored by the country’s oil Ministry, has introduced a domestically produced catalyst intended for use in a cracking unit within a Venezuelan refinery.

The move comes as Venezuela's fuel production has grappled with disruptions due to parts shortages caused by US sanctions.

The catalyst, developed by Eksri Novin Asia, was revealed during a ceremony in Tehran on Wednesday, attended by Iranian Deputy Oil Minister Jalil Salari. Salari, who also leads Iran’s state-run fuel company NIORDC, participated in the event.

A report featured on NIORDC’s website highlighted that this catalyst represents the first of its kind manufactured in Iran and slated for installation in a refinery outside the nation's borders.

Although the report did not explicitly specify that the catalyst was designed to address the needs of Venezuelan refineries, it's important to note that Venezuela produces heavy grades of oil.

Notably, earlier reports had indicated that Venezuelan authorities had commissioned the device during President Nicolas Maduro's visit to Tehran in June 2022.

Iran has been actively providing equipment and technological support to bolster Venezuela’s oil sector, aiding the nation's efforts to counter the repercussions of US sanctions.

Iran's technical assistance has played a pivotal role in revitalizing Venezuela’s oilfields and refineries, helping the country contend with a significant fuel shortage stemming from the impact of sanctions.

Through an arrangement with Venezuela, Iran supplies its own crude oil grades to South American refineries, where they undergo processing into higher-value products, including gasoline.

In a noteworthy achievement, Iranian companies managed to produce catalytic cracking devices essential to the nation's refining industry back in 2018.