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Rafael Ramirez, former president of PDVSA, under investigation for corruption

Monday, March 27, 2017

Venezuela increased fuel exports to allies even as supply crunch loomed


A gasoline shortage in OPEC member Venezuela was exacerbated by an increase in fuel exports to foreign allies such as Cuba and Nicaragua and an exodus of crucial personnel from state-run energy company PDVSA, according to internal PDVSA documents and sources familiar with its operations. Leftist-run Venezuela sells its citizens the world's cheapest gasoline. Fuel supplies have continued flowing despite a domestic oil industry in turmoil and a deepening economic crisis under President Nicolas Maduro that has left the South American country with scant supplies of many basic necessities. More…

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