PDV Marina to Buy Tankers from Iran

Venezuela's state oil company will reportedly buy four oil tankers from Iran, according to an AP report. 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 Venezuela president Hugo Chavez, reportedly 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. (Source: AP)