CHAVEZ INKS HUGE TANKER DEAL WITH IRAN

GULF NEWS DAILY:

Venezuela's state oil company said yesterday that it will buy four oil tankers from Iran, expanding its fleet with the help of a nation closely allied with President Hugo Chavez.

Petroleos de Venezuela SA said in a statement that its shipping subsidiary, PDV Marina, had signed a contract to buy the tankers from the Iran Marine Industrial Company. It did not disclose the price. PDV Marina president Asdrubal Chavez, who is a cousin of the president, said the deal is among various projects involving the two governments, and is also part of Venezuela's larger plan to expand PDV Marina's current fleet of 21 oil tankers.

... The leftist president also has sought particularly close ties with Iran since he took office in 1999.

DON'T YOU JUST LOVE THE FACT THAT HUGO'S FREAKIN' COUSIN RUNS THE COUNTRY'S SHIPPING COMPANY! AND THERE'S MORE, (AFP):

Venezuela's state oil giant PDVSA has formed a joint venture with Iranian-owned Sadra America Latina to support offshore oil exploration and development, PDVSA said Friday.

The new company, Venezirian, will offer engineering, construction and repair services for offshore platforms, PDVSA said in a statement. At first it will involve building offshore structures in Iran and assembling them in Venezuela, but eventually it will involve building them in Venezuela.

Birds of a feather...