Wednesday, March 20, 2019

PetroVietnam slips down an empty Venezuelan well


This month, Vietnam’s Ministry of Public Security opened an investigation into alleged corruption at state-owned PetroVietnam over a now-stalled billion dollar project to tap petroleum in Venezuela’s Orinoco Belt, one of the world’s largest oil reserves. This week, anti-graft inspectors demanded that PetroVietnam and its subsidiary, PetroVietnam Exploration Production (PVEP), hand over relevant documents for a probe into whether corruption and other misdeeds took place before the Venezuela-based project was ditched in 2013. More…

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