THE photo shows Venezuela`s President Nicolas Maduro (C) taking part in the delivery of 50 oil wells of the Cacique Chaima oil field. Corruption in Venezuela`s oil industry is a monster that has devoured billions of dollars over the last 20 years.

Transparencia Venezuela, which monitors corruption, reports that at least $16.96bn were embezzled between 2020 and March 2023. The amount, according to De Freitas, is equivalent to three times what is needed to put an end to the country`s chronic electricity problems, reflected in severe rationing.-AFP