Iran and Venezuela are planning to invest $4 billion in a joint project in the South American country’s heavy-crude-producing Orinoco Belt.

Iranian star Ali Karimi was in buoyant mood after Iran’s national Team came from behind to defeat Uzbekistan 2-1 in their opening game of the 2007 Asian Cup.

When Austria-based energy company OMV AG (OMV.VI) saw a chance to develop a lucrative Iranian gas field in April, it jumped at the $18 billion deal despite strong opposition from the US.