Venezuela: 42 people arrested in anti-corruption operation

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."

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Some 40 people have been arrested in Venezuela as part of an anti-corruption “crusade” linked to the state-owned oil company Petroleos de Venezuela (PDVSA), which has included the fall of the oil minister, announced Attorney General Tarek William Saab.

“To date, the Public Prosecution Service has managed, in collaboration with auxiliary bodies, to arrest 42 people linked to various corruption schemes aimed at embezzling (funds from) the national economy,” Saab tweeted on Saturday, referring to the arrests that began on March 17. He explained to AFP that these officials, company managers and businessmen face up to 30 years in prison (the maximum sentence in Venezuela).

These people are accused of “appropriation or misappropriation of public property, influence peddling, money laundering, criminal association and treason”, he said at a press conference on 25 March, announcing the arrest of 21 people.

This anti-corruption “crusade”, as it has been dubbed by senior officials including President Nicolas Maduro, led to the resignation on March 21 of Oil Minister Tareck El Aissami, who had been considered a key figure in the government and was targeted by U.S. sanctions.

Several of his close associates are among those arrested. The president of the state-owned Corporacion Venezolana de Guayana (CVG) Pedro Maldonado and officials of the Venezuelan steel giant Sidor are among those arrested in recent days.

This anti-corruption snare had already swept up Antonio Jose Perez Suarez, a vice president of PDVSA, among others, as well as former congressman Hugbel Roa — a creator of the Venezuelan cryptocurrency Petro, theoretically backed by oil — and a manager of these cryptoassets Joselit Ramirez. Mr. Maldonado, former head of the Central Bank of Venezuela, was part of a corruption network led by Mr. Roa, a figure from the United Socialist Party of Venezuela (PSUV), judicial sources told AFP.

The public prosecutor, who did not rule out further arrests, said the seized assets would be confiscated by the state but did not reveal the amount of the alleged embezzlement. The press mentions “3 billion dollars”.

President Maduro, who has launched anti-corruption operations in the past, said in late March that the investigations began in October. Since 2017, Venezuela’s oil industry has been targeted by numerous investigations that have resulted in the arrest of nearly 200 employees and two oil ministers, Eulogio del Pino and Nelson Martinez. The latter died in custody.

Maersk and CATL have signed a strategic memorandum of understanding to strengthen global logistics cooperation and develop large-scale electrification solutions across the supply chain.
ABB made several attempts to acquire Legrand, but the French government opposed the deal, citing strategic concerns linked to data centres.
Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
Chevron India expands its capabilities with a 312,000 sq. ft. engineering centre in Bengaluru, designed to support its global operations through artificial intelligence and local technical expertise.
Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
Driven by growing demand for strategic metals, mining mergers and acquisitions in Africa are accelerating, consolidating local players while exposing them to a more complex legal and regulatory environment.
Ares Management has acquired a 49% stake in ten energy assets held by EDP Renováveis in the United States, with an enterprise value estimated at $2.9bn.
Ameresco secured a $197mn contract with the U.S. Naval Research Laboratory to upgrade its energy systems across two strategic sites, with projected savings of $362mn over 21 years.
Enerflex Ltd. announced it will release its financial results for Q3 2025 before markets open on November 6, alongside a conference call for investors and analysts.
Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
North Atlantic and ExxonMobil have signed an agreement for the sale of ExxonMobil’s stake in Esso S.A.F., a transaction subject to regulatory approvals and financing agreements to be finalised by the end of 2025.
The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.
The Swiss chemical group faces two new lawsuits filed in Germany, bringing the total compensation claims from oil and chemical companies to over €3.5bn ($3.7bn) in the ethylene collusion case.
Statkraft continues its strategic shift by selling its district heating unit to Patrizia SE and Nordic Infrastructure AG for NOK3.6bn ($331mn). The deal will free up capital for hydropower, wind, solar and battery investments.
Petronas Gas restructures its operations by transferring regulated and non-regulated segments into separate subsidiaries, following government approval to improve transparency and optimise the group’s investment management.
Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.
Exxon Mobil plans to reduce its Singapore workforce by 10% to 15% by 2027 and relocate its offices to the Jurong industrial site, as part of a strategic investment shift.
Phoenix Energy raised $54.08mn through a preferred stock offering now listed as PHXE.P on NYSE American, with an initial dividend scheduled for mid-October.
TotalEnergies plans to increase its energy production by 4% annually until 2030, while reducing global investments by $7.5bn amid what it describes as an uncertain economic environment.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.