• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days What China is Learning from Russia's War in Ukraine and its Consequences
  • 21 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 7 hours Advancing Fundamental Drilling Science - Geothermal drilling successes offer potential gain for petroleum industry
  • 4 days Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
  • 5 days Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 13 hours "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
Two High-Yield Plays In A Tricky Market

Two High-Yield Plays In A Tricky Market

Rising interest rates spell doom…

Afghanistan Can’t Pay Its Biggest Electricity Suppliers

Afghanistan Can’t Pay Its Biggest Electricity Suppliers

Sanctions against the Taliban government…

Saudi Aramco Plans To Take Its Trading Arm Public

Saudi Aramco Plans To Take Its Trading Arm Public

Saudi Aramco, taking advantage of…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Venezuela Arrests Oil Workers To Cover Up Bad Press About PDVSA

Venezuela’s regime has recently arrested oil workers or retired oil workers who have dared to expose the corruption and mismanagement at its state oil firm PDVSA and its dire financial, operational, and working conditions, Argus reports. Venezuela’s military intelligence and its national intelligence service Sebin have arrested in recent weeks two people, one of whom a retired PDVSA worker, who had openly criticized the dangerous working conditions and the corruption at the state oil firm, oil industry sources told Argus. 

The retired PDVSA worker Guillermo Zarraga, who is also a union official, was arrested last Saturday by intelligence service Sebin and accused of terrorism over the explosion of a crude distillation unit at one Venezuelan refinery in late October. The unit at the Amuay refinery in northern Venezuela suffered a blast at the end of last month, and Nicolas Maduro—still clinging to power—has stated it was a terrorist attack with a “large and powerful weapon.” 

PDVSA has been trying to boost processing rates at the Amuay refinery, as well as at the 305,000-bpd Cardon refinery, also in the area, to increase gasoline production amid a grave shortage.

This push to increase processing rates, according to one source who spoke to Argus at the time, may have been what led to the explosion. According to the source, the company was neglecting safety concerns as it raced to bring more processing capacity online.

Related: Why Iraq Isn’t Producing 10 Million Barrels Per Day Yet

Leaks about the state of neglect and dangerous conditions at PDVSA often end up in media outlets, which cite internal PDVSA sources, and now Maduro’s regime seems to be moving to silence the dissidents.

In one of the latest such reports, PDVSA sources told Reuters this week that PDVSA employees are ready to accept bribes not to report thefts of crude oil from idled oilfields as their meager salaries quickly evaporate with the hyperinflation. Venezuelans are stealing crude oil to process it at home to make gasoline amid severe fuel shortages in the country holding the world’s biggest oil reserves.

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News