Pepex CEO to become PDVSA’s Head of International Commercialization

August 21, 2003

PDVSA announced it has named Boris Marchegani as the new Head of International Commercialization. Who is he? Easy, Mr. Marchegani is the CEO and co-founder of Pepex the same company that PDVSA handed all of its commercialization to last February. Unfortunately for PDVSA, Pepex and Venezuela, the results were a fiasco as other oil traders began arbitraging PDVSA and its customers. At that time, PDVSA had to stop working with Pepex due to the poor results. Now, the “genious” and CEO behind that company is brought in by the same man, Aires Barreto, who originally hired Pepex. Barreto, who had retired from PDVSA where he was a Director for Hector Ciavaldini, a jump well-above his previous managerial level at the company, was recently named Vice-President of the company and more recently Head of Commerce and Supply. Indian-born Barreto has more lives than a cat, the only question is why he keeps involving Mr. Machegani in PDVSA’s dealing or why Mr. Marchegani would even be interested in the position after being CEO of Pepex. Somehow, I can’t help but think that some interesting business deals are involved and not precisely in PDVSA’s or Venezuela’s interests.

This entry was posted on August 21, 2003 at 11:49 pm and is filed under Venezuela.

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