Chevron Employees Arrested as Venezuela Clampdown Escalates
- Two workers were arrested by local authorities on Monday
- U.S. major is part of joint venture with state oil company
Photographer: David Paul Morris/Bloomberg
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Two employees of Chevron Corp., one of the few majors still helping Venezuela’s collapsing oil industry, were arrested there on Monday as President Nicolas Maduro ratchets up his crackdown on alleged corruption.
Chevron’s presence in the troubled South American nation can be traced back to the 1920s. The San Ramon, California-based oil giant operates Venezuela’s second-largest upgrader, a plant that converts tar-like, extra-heavy crude into lighter oils for refineries. It also participates in five production projects in the country, including four jointly with state-run Petroleos de Venezuela SA, or PDVSA.