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Venezuela arrests former oil bosses in deepening graft purge
Source: Reuters
#WORLD NEWS NOVEMBER 30, 2017 / 8:52 AM / UPDATED AN HOUR AGO
Venezuela arrests former oil bosses in deepening graft purge
Alexandra Ulmer, Deisy Buitrago
4 MIN READ
CARACAS (Reuters) - Venezuelan authorities said on Thursday they detained two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening anti-corruption purge also seen as a power play by leftist President Nicolas Maduro.
Engineer Eulogio Del Pino was thought to have participated in a $500 million corruption and sabotage scheme at the Petrozamora joint venture, while chemist Martinez was suspected of allowing a poor refinancing deal for U.S.-based refiner Citgo Petroleum Corp, which he used to lead, to go ahead without government approval, prosecutor Tarek Saab said in a televised speech.
Their detention is the biggest development to date in a months-old probe that has led to the jailing of about 65 executives in a sweep that has panicked PDVSA workers and stalled decision-making in the company that oversees the world’s biggest crude reserves.
The arrests of Del Pino and Martinez put attention on Rafael Ramirez, who was Venezuela’s oil czar for a decade and under whom both men ascended.
Maduro fired Ramirez, who was thought to have presidential ambitions, from his job as representative to the United Nations on Tuesday and summoned him back to Caracas, according to people with knowledge of the information.
-snip-
Venezuela arrests former oil bosses in deepening graft purge
Alexandra Ulmer, Deisy Buitrago
4 MIN READ
CARACAS (Reuters) - Venezuelan authorities said on Thursday they detained two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening anti-corruption purge also seen as a power play by leftist President Nicolas Maduro.
Engineer Eulogio Del Pino was thought to have participated in a $500 million corruption and sabotage scheme at the Petrozamora joint venture, while chemist Martinez was suspected of allowing a poor refinancing deal for U.S.-based refiner Citgo Petroleum Corp, which he used to lead, to go ahead without government approval, prosecutor Tarek Saab said in a televised speech.
Their detention is the biggest development to date in a months-old probe that has led to the jailing of about 65 executives in a sweep that has panicked PDVSA workers and stalled decision-making in the company that oversees the world’s biggest crude reserves.
The arrests of Del Pino and Martinez put attention on Rafael Ramirez, who was Venezuela’s oil czar for a decade and under whom both men ascended.
Maduro fired Ramirez, who was thought to have presidential ambitions, from his job as representative to the United Nations on Tuesday and summoned him back to Caracas, according to people with knowledge of the information.
-snip-
Read more: https://www.reuters.com/article/us-venezuela-oil/venezuela-arrests-former-oil-bosses-in-deepening-graft-purge-idUSKBN1DU1X4