Venezuela, Iran Explore Joint Shipbuilding Operation

Venezuela and Iran have agreed to explore setting up a joint shipbuilding operation in the South American country, according to AP reports. The preliminary agreement envisions jointly building oil tankers, liquid natural gas tankers and other vessels, and training Venezuelans in shipbuilding technology. The deal was signed in Caracas between PDVSA and Sadra Iran Marine Industrial Company, according to the report. Ties between the two oil-producing countries have tightened as President Hugo Chávez has sought to build international alliances to counter U.S. economic and political dominance. Venezuela and Iran are both members of the Organization of the Petroleum Exporting Countries and have consistently backed efforts to bolster prices by controlling production volumes. Source: AP