Message to INFODIO readers: investigative journalism, which is what this site does, takes lots of time and effort. Visiting media looking for a quick run down on Venezuela's gargantuan corruption, pls have the decency to at least cite the source when plagiarising this site's content without attribution (exhibit Reuters here, exhibit Bloomberg here, exhibit OCCRP here). To all readers: do the right thing, the honest thing, support independent investigative journalism. 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. 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. Note added 12/06/2026: infodio.com has not created mirror websites / domains and remains totally independent and unrelated to others. Beware of websites using our brand.
PLEASE READ UPDATE ADDED 03/04/2017 BELOW - It has become a custom. Unsupported information leaked to this site ends up being confirmed by official evidence. The latest puts to rest an extraordinary claim: that Derwick Oil & Gas was actually a silent partner of Russia's Gazprombank Latin America Ventures B.V. in its dealings with Petroleos de Venezuela (PDVSA).
Further to Bloomberg's reporting that Swiss authorities are collaborating with U.S. Attorney Preet Bharara's corruption probe into PDVSA and Derwick Associates, I posted an open letter, enclosed below.
Upon posting the latest bit of research on Luis Oberto’s real estate activities through proxies in St Barths, a request for comment was sent to Bruno Magras, President of St Barths’ Territorial Council (effectively the island’s government). Monsieur le Président did reply, with the following message (bold added):
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.
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.
SCI Bucefalus and Guillermo Pardo involved in construction of 46-rooms hotel in St. Barts (source p. 4).
The email came from a fellow journalist at Colombia's W Radio, asking for information about Trenaco and/or Alex Saab. The issue at hand was a contract, believed to exceed $7 billion USD, that Petróleos de Venezuela (PDVSA) granted to Trenaco through subsidiary PetroMiranda. Readers of this site may remember my previous investigations into multimillion dollar fraud involving Saab and his Fondo Global de Construcción companies in Venezuela, Ecuador, Malta, Spain and so on.
South of the Rio Grande, only Venezuela can claim to have reached Olympian heights in the corruption leagues. Venezuela is where grand theft has become institutionalized, and more importantly, perhaps the only country in the region -apart from the Cuban dictatorship- where stealing billions of dollars has no consequences. None.
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