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.
What kind of self respecting and established journalist in the employ of a reputed media outlet sends draft of unpublished work -for edit / suggestions / feedback- to people completely unrelated to his employer? The Franklin Foer kind. What kind of a well established media allows a professional journalist to get marching orders from spin doctors retained by the worse Russian and Venezuelan criminality?
The case of Nynas qualifies as one of the most brazen corporate raids seen in Venezuelan owned assets. Before Trump administrations' sanctions, PDVSA was Nynas' majority shareholder with a stake of over 50%. The rest was owned by Finland's Neste group. Treasury sanctions on PDVSA caused a great deal of disruption, which pushed Nynas to the brink of bankruptcy.
Developing story: GUNVOR COLOMBIA SAS, a subsidiary of Gunvor, has been caught participating in an elaborate trade scheme involving PDVSA crude. The crude produced in Venezuela was being exported as "residual oil" to Curaçao and Panama, and then delivered to Swiss Terminal's (subsidiary of Houston-based SGR Energy) storage in Barranquilla. On the import side there were Petroworld SAS, La Operadora SAS, Krystal Energy SAS.
There is one record that distinguishes the administrations of Hugo Chavez and Nicolas Maduro with previous governments in Venezuela: amount of international lawsuits brought against PDVSA. Reasons are varied, but it all comes down to yet another unique characteristic of both Chavez and Maduro: total disregard for contracts and its legally binding aspects. Law is not something that was ever going to stand in the way of the Bolivarian Revolution. If it could not be amended on the fly to suit revolutionary needs, it would just be ignored.
English
Español
