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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

April 13, 2023

What Is the Effect of the Corruption Scandals at PDVSA?

Venezuelan authorities have detained 34 people in a crackdown on alleged corruption at state oil company PDVSA. Former Oil Minister Tareck El Aissami, who was not among those arrested, resigned last month amid the probe. // File Photo: Venezuelan Government.

Q

A

Juan Viana, senior director for Oil and Gas/Energy at FTI Consulting: “It has been a long time since we have heard news about PDVSA, and the fact that the Maduro administration is looking into PDVSA may be a signal to the industry and the region. There has been a lot of noise about Venezuela’s oil potential and how to bring it back into the game. We have seen successful efforts from U.S. oil companies, like the recent Office of Foreign Assets Control’s General License 41, authorizing Chevron to resume limited extraction operations in Venezuela. Also, in early March, the media revealed that U.S. authorities were investigating companies trading Venezuelan oil in violation of sanctions. The scrutiny involves players operating across Latin America. It is worth highlighting that in the past decade, Latin America has…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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