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pdvsa

Chevron employees arrested in Venezuela have no chance of redress

Recently, oil related news about Venezuela have focused on the arrest of two Chevron employees. There were scant details about the arrested. Their names and nationalities have been misreported. Carlos Jose Algarra Villegas and Rene Adrian Vasquez Mora are accused of treason, by the chavista regime, for refusing to sign a no-bid contract -with usually highly inflated prices- for PDVSA - Chevron joint venture Petropiar. These two men stand no chance of redress for one simple reason: they're both Venezuelan nationals.

Odebrecht Gargantuan Corruption in Venezuela

A batch of official documents related to Odebrecht contracts in Venezuela has been leaked to this site. It is quite the task to recall similar corruption schemes, anywhere on earth. In short, Brazilian Presidents Lula da Silva and Dilma Rousseff, as well as the highest echelons of the ruling Workers Party, acted as pawns in a gargantuan corruption scheme set up by Odebrecht.

PDVSA's Eudomario Carruyo got $28 million bribe from Rafael Ramirez's cousin

Information about Banca Privada D'Andorra (BPA), a "primary money laundering concern" according to U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), continues to be published. The latest shows how BPA Serveis (chaired by Higini Cierco) was instructed by Eudomario Carruyo, Petroleos de Venezuela's VP Finance, to create a Panamanian shell corporation to get bribes.

Default circles PDVSA

For the past three/four weeks I’ve noticed a spike in Google searches for corruption-related Venezuelan names and PDVSA. Some of the world’s biggest and best known banks and accounting firms seem all too keen, suddenly, of finding out what’s going in Venezuela. It could well be related to PDVSA’s announcement of a $7 billion bond swap. But it could also be due to some persistent rumours about impending legal cases against PDVSA that could all but obliterate the company’s ability to meet its current international financial obligations, let alone future ones.

PDVSA: over $30bn awarded to contractors between 2012–2015

Petróleos de Venezuela, or PDVSA as it is commonly referred to, is an oil conglomerate fully owned by the Venezuelan State. Despite much propaganda to the contrary, it was created in 1976, by then President Carlos Andres Pérez, as part of a nationalization policy drive that gave Venezuela full control of exploration, production and commercialization of its natural resources.

#OpenPDVSA

Read an updated version here. Petróleos de Venezuela, or PDVSA as it is commonly referred to, is an oil conglomerate fully owned by the Venezuelan State. Despite much propaganda to the contrary, it was created in 1976, by then President Carlos Andres Pérez, as part of a nationalization policy drive that gave Venezuela full control of exploration, production and commercialization of its natural resources.