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BREAKING | PDVSA to eliminate trading info from SAP; Xiamen Logistic Grass another Alex Saab shell

PDVSA sources have informed this site that Tareck el Aissami, Venezuela's Oil Minister, has given specific instructions to eliminate all information about PDVSA's trading partners from its SAP system. A similar measure is to be implemented on PDVSA's crude lifting line up. According to sources, el Aissami is not quite happy with constant leaks that expose PDVSA's secrets, as posted in this site and others. El Aissami is particularly annoyed with speed at which said information -that we are ever so keen to share- reaches Donald Trump's administration's officials in charge of Venezuela policy and sanctions regime. This is causing tremendous cash flow problems for PDVSA and chavismo.

Xiamen Logistic Grass, first exposed by us as a shell that replaced Delta LLC as client behind 700,000 barrels of Hamaca crude lifted by Russia's Sierra tanker in late June, is controlled by "Libre Abordo people" according to sources.

Libre Abordo was a (now bankrupted) Mexican shell used by Nicolas Maduro and (now arrested) Alex Saab to circumvent Treasury sanctions, with the pretext of a "humanitarian oil for food" program. Venezuela's Foreign Minister Jorge Arreaza announced in early June that Venezuela would present Libre Abordo's "bankruptcy" case to the International Criminal Court.

PDVSA has been obfuscating information about its partners and trading activities for a long while now. As we revealed here, there are huge discrepancies between its SAP accounting system and its shipping programs. Moreover, PDVSA is often conducting completely off-the-books trades involving millions of barrels of crude, like the one involving the Kelly tanker.

A pathetic image of its former self, PDVSA is run by narcos, it trades with narcos, and has all but shut its trading, exploration and production activities.


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