|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Venezuela (Click here for more Venezuela news)

Former Top Oil Officials Arrested in Venezuela
Attorney General Tarek William Saab said Eulogio del Pino and Nelson Martinez, both of whom have served in the posts of oil minister and head of state oil company Petroleos de Venezuela S.A., were taken into custody over the past 24 hours

CARACAS – Venezuelan authorities have arrested a pair of former senior oil officials as part of an anti-corruption crackdown, the attorney general said Thursday.

Tarek William Saab announced at a press conference that Eulogio del Pino and Nelson Martinez, both of whom have served in the posts of oil minister and head of state oil company Petroleos de Venezuela S.A., were taken into custody over the past 24 hours.

“On Wednesday afternoon and Thursday morning ... a series of arrests were made” in connection with a probe of oil industry corruption, Saab said.

In August, leftist President Nicolas Maduro announced that he was swapping the two officials, with Martinez moving from his position as oil minister to become PDVSA chief and Del Pino ceasing to be the head of the state oil company to take over the oil portfolio.

But on Sunday Maduro replaced both men, naming National Guard Maj. Gen. Manuel Quevedo as head of both the ministry and PDVSA and saying the move was part of a complete restructuring of Venezuela’s state-owned oil giant.

Martinez was arrested for allegedly participating in an arrangement to refinance the debt of Citgo Petroleum Corp. – PDVSA’s largest subsidiary in the United States – without obtaining prior government approval.

Executives of Houston-based Citgo who were arrested last week in connection with that same debt deal told investigators that Martinez also was aware of the contract, according to Saab.

Del Pino, for his part, was arrested for his alleged role in corruption and sabotage schemes at Petrozamora (a joint venture between PDVSA and Russia’s Gazprom) that led to losses estimated at around 15 million barrels of oil between 2015 and 2017, the attorney general said.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved