Venezuela's Corruption Exposed

Message to INFODIO readers: investigative journalism, which is what this site does, takes lots of time. Visiting media looking for a quick run down on Venezuela's gargantuan corruption, have the decency to at least cite the source when plagiarising this site's content without attribution (exhibit Reuters here and here, exhibit Bloomberg here, exhibit OCCRP here). To all readers, do the right thing, the honest thing: support independent investigative journalism, help us expose rampant corruption. Note added 28/06/2021: impostors are using INFODIO's former editor's full name, and a fake email address (alek.boyd.arregui at gmail.com) to send copyright infringement claims / take down requests to web hosting companies (exhibit Hostgator). The attempt is yet another effort paid by corrupt thugs to erase information about their criminal activities. Infodio.com has no issues with other websites / journalists using / posting information published here, so long as the source is properly cited.

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

4 years ago By Alek Boyd

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.

Wanted narco Tareck el Aissami

Tags

Add to Breaking news
Off

Copyright © 2018, INFODIO. All rights reserved.