What is the South American national energy company most prone to corruption? Many would answer Petrobras due to the ongoing operation “Car Wash” scandal. However right up there, in not exceeding the Brazilian national energy concern is Venezuela’s state oil company, Petroleos de Venezuela SA (PDVSA), lately having been run by cronies of former President Hugo Chavez. The U.S. government has been investigating PDVSA in connection with potential violations of the Foreign Corrupt Practices Act involving U.S. companies and money laundering by corrupt PDVSA officials.
