Venezuela arrests head of U.S. refiner Citgo in graft sweep

22 Nov 2017   Venezuela

Venezuelan authorities on Tuesday arrested the acting president of its U.S.-based refiner Citgo and five of the subsidiary’s top executives as part of a spiraling corruption purge in the OPEC country’s oil industry.  Military intelligence agents detained Jose Pereira during an event at state oil company PDVSA’s headquarters in Caracas, two sources told Reuters, in the latest of dozens of high-level arrests in the last few months. State Prosecutor Tarek Saab has declared a “crusade” against “organized crime” within PDVSA, and has now arrested around 50 oil managers since taking office in August. In the case of Texas-based Citgo, Saab told a news conference that his office had uncovered a roughly $4 billion planned deal with foreign firms, offering the refiner as guarantee in a detrimental deal for […]

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