Watching The World: Iran woos Latin America

Iran's oil diplomacy was in full swing last week, with President Mahmoud Ahmadinejad visiting several Latin American countries, led by his talks with Venezuela's leader Hugo Chavez. Underlining the ongoing oil links between two of the founder members of the Organization of the Petroleum Exporting Countries, the semi-official Fars News Agency reported that Iran will deliver an oil tanker to Venezuela later this year. Reza Abdolmajid, in charge of the 113,000-ton Aframax tankers project at Iran Marine Industrial Co. (Sadra), said his firm is making four of the tankers for Venezuela, with the first coming in September. Word of the four-tanker deal, valued at €520 million, coincided with the ...

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