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Focus

Where did the oil money go?

By Anatoly Kurmanaev
A file photo showing the exterior of the Cardon oil refinery in Punta Cardon, Venezuela. Trump officials and their Venezuelan allies have promised a new era of accountability to unlock the country’s immense oil wealth, but the oil industry remains a black hole. — Adriana Loureiro Fernandez/The New York Times

US and Venezuelan officials have pro­mised a new era of accountability for Venezuela’s lucrative oil industry after the downfall of President Nicolas Maduro.

US President Donald Trump said his country would control Venezuelan oil sales. Venezuela would submit monthly budgets to the White House, the Trump administration said, and the United States said it hired auditors to check receipts.

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Trump , Donald J; Foreign Investments; Poverty; Hangzhou (China); Politics and Government; United States Politics and Government; Economic Conditions and Trends; Petroleos de Venezuela SA; Humanitarian Aid; State Department; International Relations; KPMG; Appointments and Executive Changes; United States; Venezuela; Government Contracts and Procurement; Corruption (Institutional); Regulation and Deregulation of Industry; Nepotism; Oil for Food Program (UN); United States Economy; Ships and Shipping; Food Aid; Budgets and Budgeting; Caracas (Venezuela); International Trade and World Market; China; Nationalization of Industry; Boards of Directors; Foreign Aid; Chevron Corporation; United States International Relations; Embargoes and Sanctions; Bribery and Kickbacks; New York Times; Banking and Financial Institutions; Minimum Wage; Oil (Petroleum) and Gasoline; World

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