Venezuela’s state oil firm Petroleos de Venezuela SA (PDVSA) has confirmed in an internal probe that there was fraud in the company’s procurement processes, according to Reuters.
It is the first time the troubled company has acknowledged any truth behind US allegations of a massive $1bn bribery scheme at the firm, which is the sole rights holder to Venezuela’s vast oilfields, both offshore and onshore.
Previously PDVSA’s official stance had been always to denounce as a smear an ongoing court case in Houston, Texas, against two Venezuelan businessmen who are charged with paying bribes for energy contracts.
PDVSA’s denials had continued even though the two businessmen and three former PDVSA officials pleaded guilty in the case.
But now PDVSA’s audited financial statement has “confirmed the company was a victim of fraud in its process of international procurement.”
