Donald Trump revoked a license granted to Chevron to exploit oil in Venezuela, condemning Caracas for failing to uphold migrant repatriation agreements. This decision could affect Venezuela’s oil industry and trade relations between the two countries.
The Venezuelan government is facing a new corruption case, with alleged embezzlement of three billion dollars within the state oil company PDVSA. Tareck El Aissami, Minister of Oil, has resigned to support the ongoing investigations.
The United States has cancelled oil operation authorisations in Venezuela for foreign companies, disrupting exports and reinforcing the country's economic isolation following Nicolás Maduro's contested re-election.
In Venezuela, five of the last eight Oil Ministers are imprisoned or on the run, accused of corruption. This strategic sector, vital to the country, is plagued by recurring scandals.
Venezuela has arrested 42 people in a corruption case linked to the state-owned oil company PDVSA. Those arrested face up to 30 years in prison, in an anti-corruption operation dubbed the "crusade."
Endemic corruption in the Venezuelan oil industry has swallowed up billions of dollars, exposing massive embezzlement at Petroleos de Venezuela (PDVSA).
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
At the heart of the oil industry, Tareck El Aissami, a former pillar of Venezuelan power, has fallen. Arrested for massive corruption, his case shook the industry.
An anti-corruption operation in Venezuela has led to the arrest of 51 people, fuelling debate about a possible political purge or anti-corruption crusade. The oil industry, the mainstay of the Venezuelan economy, is particularly targeted by corruption investigations.
Venezuela, with the world's largest oil reserves, is struggling to revitalize its oil industry despite sanctions, pollution of Lake Maracaibo and environmental challenges.
