22 C
Georgetown
Saturday, January 16, 2021

Former oil executives get prison sentence in Venezuela, US calls for their release

Must Read

Company planning to use recycled oil waste for production of bitumen, liquid mud

Oilfield Waste Management Services (OWMS) plans to construct a thermal desorption waste treatment plant in Guyana to support the...

Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower,...

ExxonMobil comes up dry at Hassa-1 offshore Guyana

Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

(Reuters) – A Venezuelan court sentenced six former executives of U.S. refiner Citgo to prison after finding them guilty of corruption charges on Thursday.

The officials were arrested in November 2017 after being called into a meeting at the Caracas office of state oil company PDVSA, which owns Citgo. They were accused of crimes such as embezzlement, money laundering and conspiracy.

The former president of the company, Jose Pereira, was fined $2 million and sentenced to 13 years and seven months while the five others, former Citgo vice presidents Jose Luis Zambrano, Alirio Jose Zambrano, Jorge Toledo, Tomeu Vadell and Gustavo Cardenas, were sentenced to more than eight years.

The six denied wrongdoing and a lawyer on their defense team said they planned to appeal.

“The evidence for the crimes they are accused of was not there, it did not even mention the six of them,” said the lawyer, Maria Alejandra.

“The defense, we were ready for this decision because they are political prisoners.”

Venezuela’s information ministry did not immediately respond to a request for comment.

A relative of one of the sentenced men said the families are in communication with U.S. officials.

Venezuela opposition leader Juan Guaido took control of Houston-based Citgo, Venezuela’s most profitable overseas asset, in 2019 after the United States recognized him as the country’s legitimate president.

Washington has called for the release of the group, which includes naturalized U.S. citizens.

President Nicolas Maduro retains control of most state functions and the Venezuelan operations of PDVSA, which are under U.S-imposed sanctions.

REUTERS: Reporting by Sarah Kinosian in Caracas and Marianna Paraga in Mexico City; Editing by Robert Birsel

Latest News

Company planning to use recycled oil waste for production of bitumen, liquid mud

Oilfield Waste Management Services (OWMS) plans to construct a thermal desorption waste treatment plant in Guyana to support the...

Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall...

SBM Offshore gets ‘Best Oil Platform Operations’ award from Brazil’s Petrobras

Dutch floater specialist SBM Offshore, operator of the Liza Destiny FPSO in Guyana, has received the ‘Best Oil Platform Operations’ award from Brazil’s state...

ExxonMobil comes up dry at Hassa-1 offshore Guyana

Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said on Friday in response to...

Piping gas to shore brings major benefits, find the right investment balance urges analyst

The Guyana government is forging ahead with its plan to land a gas pipeline onshore to produce cheaper, cleaner energy and create new economic...

More Articles Like This