In the “old” and much-maligned PDVSA, the Topomoro oil field west of Maracaibo was considered to be the most promising oil field in its portfolio. So promising in fact, that the old PDVSA had decided it to keep it for itself and maximize profits for the company. Under the “new” and “revolutionary” PDVSA, it was decided to auction the field for exploitation by foreign companies. (No Venezuelan companies needed apply, as they are considered anti-Chavez, even thougn last week a Venezuelan company of ex-PDVSA workers won a contract to exploit an oil field in Colombia). Well, today we learn PDVSA found no partners for Topomoro for a variety of reasons. First of all, very few companies want to partner with PDVSA under the terms of the new Hydrocarbons law. Second, many comapnies want to wait out until the political crisis is resolved before stepping in. Third, the high minimum bidding price requested by PDVSA was considerec out of line by all comapnies interested in the project. Thus PDVSA will try to develop it itself.
Meanwhile, the “new”, “improved” and “ethical” PDVSA found itself without a Head of Security when Chavez’ friend, comrade and colleague Perez Issa was “removed” from his all powerful position in the company. The reason? Simple, so much corruption that even Chavez could not look the other way. Is Perez Issa going to jail? Of course not, much like the Colonel in the Social Security administration who “took” US$12 million, Perez Issa, who has quite a few human rights violations in his CV, was given a downgrade as Head of Security at Citgo’s Headquarters in Tulsa. Interesting how in the many years of the PDVSA meritocracy, only one large corruption scandal exploded (the Petroespias scandal), forcing all involved to flee the country to this day, while now daily charges of corruptions are made, but nobody is even close to being charged. Has anyone noticed ho PDVSA makes less money on each barrel of oil? Ever wonder why? Who is making the difference? Could it be Perez Issa? Nooooooo…
The Devil's Excrement 
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