Bizarro Bolivarian World: Parrallel Board of Directors for PDVSA

November 30, 2002

In one of the most bizarre episodes of the Chavez Goverment, a former Vice-President of Venezuela during the Chavez administration, the former President of the state oil company PDVSA during the April crisis, two of the Board members at that time, its current  Head of Security and others, were charged by local newspaper El Nacional yesterday (page E-1) of forming a parallel Board of Directors for the company and holding a shareholders meeting at which they made the following decisions:

-Hold a politcal trial of all of the Board members of PDVSA during the last twenty years.

-Remove the President of the company, Ali Rodriguez, a Chavez appointee and both the current Minister and Vice-Minister of Energy.

-Hold a new stockholder’s meeting to have the Board of Directors report to them on their administration.

While one of the former Directors of PDVSA denied that this ever took place (today’s El Nacional, page E-1), a fomer Director of the Ministry of Energy and Mines who was also named by the newspaper yesterday said today (same page) that the documents are real and while the parallel Board and shareholders meeting were proposed, they were never held.

To me that is like saying that I am indeed crazy, but not as much as you are accusing me of being.

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