CARACAS - Venezuelan authorities have arrested Pedro Tellechea, the former Minister of Industry and Oil, on suspicion of “serious crimes against the nation’s highest interests.” This was confirmed by Attorney General Tarek Saab in a statement on social media, as reported by Reuters. Tellechea, who previously led the state oil company PdVSA, was taken into custody early Sunday morning along with several of his close associates.
Pedro Tellechea played a crucial role in negotiations with Curaçao regarding the settlement of over $100 million in debts that remained after the closure of Refineria Isla BV in 2019. Under his leadership, PdVSA agreed to settle this debt through the delivery of oil products instead of cash payments, with Prime Minister Gilmar Pisas negotiating on behalf of Curaçao.
Tellechea’s arrest comes amid a large-scale investigation into corruption within PdVSA, which had already led to the detention of former Oil Minister Tareck El Aissami in April. El Aissami was once considered one of the most influential figures in President Nicolás Maduro’s government.
In recent years, Venezuela has experienced a significant decline in oil production, attributed to a lack of investment and U.S. sanctions that have been in place for five years. Despite these setbacks, the country has shown a slight resurgence in production in recent years.
In the aftermath of the July elections, which authorities claim were won by Maduro but are viewed by the opposition as a victory for their candidate, some opposition members are calling for adjustments or the repeal of U.S. oil licenses that generate revenue for the Venezuelan government. Earlier this year, the Biden administration temporarily eased strict sanctions from the Trump era but quickly reinstated them after the U.S. determined that Maduro had not fulfilled his obligations.