Listen Download Podcast
  • RFI English News flash 04h00 - 04h10 GMT Mon-Fri
    News bulletin 12/11 04h00 GMT
  • Paris Live AM 04h10 - 04h30 GMT Mon-Fri
    Features and analysis 12/11 04h10 GMT
  • RFI English News flash 05h00 - 05h10 GMT Mon-Fri
    News bulletin 12/11 05h00 GMT
  • Paris Live AM 05h10 - 05h30 GMT Mon-Fri
    Features and analysis 12/11 05h10 GMT
  • RFI English News flash 06h00 - 06h10 GMT Mon-Fri
    News bulletin 12/11 06h00 GMT
  • Paris Live AM 06h10 - 06h30 GMT Mon-Fri
    Features and analysis 12/11 06h10 GMT
  • RFI English News flash 06h30 - 06h33 GMT Mon-Fri
    News bulletin 12/11 06h30 GMT
  • Paris Live AM 06h33 - 06h59 GMT Mon-Fri
    Features and analysis 12/11 06h33 GMT
  • RFI English News flash 07h00 - 07h10 GMT Mon-Fri
    News bulletin 12/11 07h00 GMT
  • RFI English News flash 07h30 - 07h33 GMT Mon-Fri
    News bulletin 12/11 07h30 GMT
  • RFI English News flash 14h00 - 14h03 GMT Sat-Sun
    News bulletin 12/10 14h00 GMT
  • RFI English News flash 14h00 - 14h06 GMT Mon-Fri
    News bulletin 12/11 14h00 GMT
  • Paris Live Weekend 14h03 - 14h30 GMT Sat-Sun
    Features and analysis 12/10 14h03 GMT
  • Paris Live PM 14h06 - 14h30 GMT Mon-Fri
    Features and analysis 12/11 14h06 GMT
  • RFI English News flash 14h30 - 14h33 GMT Mon-Fri
    News bulletin 12/11 14h30 GMT
  • Paris Live PM 14h33 - 14h59 GMT Mon-Fri
    Features and analysis 12/10 14h33 GMT
  • RFI English News flash 16h00 - 16h03 GMT Sat-Sun
    News bulletin 12/10 16h00 GMT
  • RFI English News flash 16h00 - 16h06 GMT Sat-Sun
    News bulletin 12/11 16h00 GMT
  • Paris Live Weekend 16h03 - 16h30 GMT Sat-Sun
    Features and analysis 12/10 16h03 GMT
  • RFI English News flash 16h30 - 16h33 GMT Mon-Fri
    News bulletin 12/11 16h30 GMT
  • Paris Live Weekend 16h33 - 17h00 GMT Sat-Sun
    Features and analysis 12/10 16h33 GMT
To take full advantage of multimedia content, you must have the Flash plugin installed in your browser. To connect, you need to enable cookies in your browser settings. For an optimal navigation, the RFI site is compatible with the following browsers: Internet Explorer 8 and above, Firefox 10 and +, Safari 3+, Chrome 17 and + etc.
Afp

Chavez cousin to lead Citgo, PDVSA's arm in US

By AFP
media Asdrubal Chavez (right) held the critical oil ministry portfolio from 2014-2015 AFP/File

Venezuelan President Nicolas Maduro on Wednesday named Asdrubal Chavez -- a cousin of late leader Hugo Chavez -- to lead Citgo, the state oil company's US affiliate.

"He's straight off to be Citgo president, to restructure it, to get it back, to strengthen Citgo," Maduro said in a speech broadcast on VTV state television.

Asdrubal Chavez held the critical oil ministry portfolio from 2014-2015.

Venezuela on Tuesday arrested the acting president and five other top executives in charge of Citgo, the US refinery subsidiary of troubled state oil company PDVSA, on corruption charges.

Their arrests come just a week after the detention of a deputy minister and nine PDVSA officials for allegedly doctoring crude oil production figures.

Oil sales generate 96 percent of Venezuela's hard currency earnings.

In all, around 50 PDVSA employees have been arrested under an anti-corruption drive led by new attorney general Tarek William Saab since he took office in August.

The sweep underlines the debt woes swirling around PDVSA, which is the prime source of income for Venezuela, a country that sits atop the world's biggest oil reserves.

Both PDVSA and Venezuela are staring down the barrel of default on a debt pile estimated at up to $150 billion, around a third of which is paper issued by the oil company.

A partial default has already been declared by major credit ratings agencies, and an influential creditors' committee has ruled that PDVSA failed to make payments on time.

That is setting the scene for all holders of Venezuela government and PDVSA debt to possibly call in their IOUs at once -- an impossible situation for Caracas, which has less than $10 billion in hard currency reserves left.

 
Sorry but the period of time connection to the operation is exceeded.