Mubasher: The Venezuelan government has gained more powers over the oil contracts, as a deepening purge looks set to strengthen its control of the key energy sector amid a debilitating recession, according to Reuters.
A months-long crackdown on alleged graft in Venezuela’s oil industry has led to the arrest of some 65 former executives, including two prominent officials who used to lead both the oil ministry and state oil company PDVSA, the news agency reported.
President of Venezuela Nicolas Maduro has recently blamed who he called thieves and traitors for the country’s imploding economy.
