Venezuela: Venezuela names new leaders at oil firm PDVSA to ‘defeat corruption’

Author(s): Brian Ellsworth | Date: January 29, 2017 | Language: English
Source: http://www.reuters.com/ | URL: https://goo.gl/E7A7pT | Type: Text

Venezuela’s president on Sunday created an executive vice president post and named new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company and an effort to root out corruption in the OPEC nation’s principal industry.
Venezuelan President Nicolas Maduro kept Eulogio Del Pino as PDVSA president but created a new post of executive vice president while naming vice presidents in areas including finance and exploration.
PDVSA has been dogged for years by corruption ranging from lucrative smuggling of heavily subsidized fuel to kickbacks and bribery that led to prosecution of U.S.-based contractors who did business with the company.
“We have to clean out the corruption that has incubated in (the oil industry), I call on the oil workers to forcefully defeat corruption,” Maduro said in his weekly broadcast.

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