- Paying the bills -

Ortega Family Business DNP made a profit of $426 million in a decade

Distribuidora Nicaragüense de Petróleos was created by the Swiss-British consortium Glencore, whose concession was abruptly cancelled in 2009 and given to the presidential family

The sanction imposed by the United States on Distribuidora Nicaragüense de Petróleos SA (DNP) and its subsidiary Inversiones Zanzibar, has been a blow to the Ortega-Murillo family, since for the last ten years the oil company earned some US$426 million dollars in profits, according to calculations made by César Arévalo, a market specialist.

DNP Petronic gas stations look empty and without customers after being economically sanctioned by the United States Treasury Department. Oscar Navarrete / La Prensa

DNP is a business that had been run by Yadira Leets Marín, ex-wife of Rafael Ortega Murillo, eldest son of the power couple Daniel Ortega and Rosario Murillo.

- payin the bills -

Until September of last year, Leets appeared in the licenses granted to wholesalers, according to a document of the Ministry of Energy and Mines (MEM), according to documents in possession of La Prensa.

The business started with the abrupt removal of the concession in 2009 of Glencore, the Swiss-British consortium, following the opinion of Agustín Jarquín Anaya, when he was Comptroller General of Nicaragua, who on more than one occasion indicated that the concession contract for the distribution of fuel that the state-owned Petronic had given to the Swiss-British consortium Glencore was illegal because it did not have the approval of the National Assembly.

The decision to cancel the Glencore concession came two years after Daniel Ortega returned to power.

According to La Prensa report, Glencore’s contract was declared void by the Comptroller in July 1999, but the government of Arnoldo Alemán (1997-2002) rejected the resolution. Glencore obtained the concession for the distribution of fuel in 1999, that until now the exact terms are unknown.

- paying the bills -

Related Articles

Nicaragua steps up press crackdown ahead of November 7 presidential election

TODAY NICARAGUA - Nicaragua continues its repressive escalation against the press...

Who are the real money launderers in Nicaragua?

TODAY NICARAGUA - A large segment of the accusations filed against...

MOST READ

- paying the bills -

Let's Keep This Going!

To be updated with all the latest news and information about Nicaragua and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.