The Venezuelan government is shipping jet fuel to Iran as part of cooperation to tackle its gasoline and diesel shortages in the South American country.

According to Reuters, state oil company PDVSA and its Iranian counterpart NIOC have agreed to a swap deal that sees Tehran ship gasoline to Caracas, with the vessels carrying jet fuel in the opposite direction. Venezuela currently has a glut of the latter, with air traffic all but ground to a halt during the Covid-19 pandemic.

The agreement is described as a “perfect trip” in the maritime industry as the tankers travel fully loaded in both directions.

Oil export monitor Tanker Trackers reported that Iran’s handysize Forest tanker docked in El Palito refinery on February 20 and unloaded 44 million liters of gasoline, approximately 277,000 barrels.

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