Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Venezuela arrests six top executives from US-based oil company

Opposition believes arrests result of in-fighting among government factions

Andrew Buncombe
New York
Tuesday 21 November 2017 17:30 GMT
Comments
Venezuela's chief prosecutor launched a corruption probe several months ago
Venezuela's chief prosecutor launched a corruption probe several months ago (Reuters)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Venezuelan authorities have arrested six executives from a US-based oil refiner, the country’s chief prosecutor has revealed.

Reports said authorities arrested Jose Pereira, the acting president of Citgo, a US-based and Venezuelan-owned refinery, during an event at state oil company PDVSA’s headquarters in Caracas. Five other executives from the company were also detained.

Reuters said prosecutor Tarek Saab said he was leading a crusade against “organized crime” within PDVSA. Since taking office in August, he has arrested around 50 oil managers in the widening corruption investigation, the news agency said.

Mr Pereira was promoted in April as interim president of Citgo, the US refining and marketing unit of the nation’s state oil company PDVSA.

Citgo owns three refineries and a network of terminals and pipelines in the United States.

He was previously Citgo’s vice president of finance. He replaced Nelson Martinez, who was named as Venezuela’s oil minister in January.

Donald Trump considers possible military action against Venezuela

The news agency said that in the case of the Citgo arrests, Mr Saab said his office had uncovered a $4bn planned deal with foreign firms that would have seen Citgo “unfairly” indebt itself and even be offered as guarantee for the loan.

“This board of directors put Citgo in danger. That’s corruption, corruption of the most rotten nature,” Mr Saab said in a statement.

Citgo did not immediately respond to a request for comment.

President Nicolas Maduro’s government and PDVSA, which is formally known as Petroleos de Venezuela SA, have repeatedly vowed to take steps to combat corruption.

Yet opposition leaders say PDVSA has been crippled by poor management, corruption and under-investment during 18 years of socialist rule. They attribute the arrests to in-fighting among rival government factions.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in