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Caracas, Dec 18 (Prensa Latina) The president of the state company Petróleos de Venezuela (Pdvsa), Rafael Tellechea, stated today that with the signing of an agreement with the Spanish oil company Repsol they laid the foundations to promote the Petroquiriquire mixed company.
The authorities of the tiny European country are withholding illicit funds that were deposited by 21 Venezuelan individuals into Andorran banks. These former vice-ministers – who served under Hugo Chávez – allegedly took bribes from subcontractors hired by PDVSA, the state-owned oil company
Venezuela’s descent into economic and political chaos in recent years is a cautionary tale of the dangerous influence that resource wealth can have on developing countries.
Venezuela’s descent into economic and political chaos in recent years is a cautionary tale of the dangerous influence that resource wealth can have on developing countries.