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.
Archive for August 21st, 2003
For months, both local and foreign experts have been saying that Venezuela was producing no more than 2.5 million barrels of oil while the Venezuelan Government and the Minsitry of Energy and Mines was assuring everyone that the amount was 3.2 million barrels a day. Well, today President Chavez himslef said the country was producing 2.3 million barrels of oil. Innocent mistake or slip of the tongue?
The First Circuit Court on Administrative matters admitted the injunction introduced by the Venezuelan Medical Federation and suspended the permit given by the Medical College of Caracas (This is not a school, it is a union and the Federation is the union that encompasses all unions) to the Cuban doctors working in the program within the barrios. The Court ordered that any foreign Doctors that are in violation of the Law of Medical Practice to be replaced immediately replaced by Venezuelan ones. Here is the decision.
This country is in trouble, the Venezuelan Supreme Court rules that the National Assembly incurred in omission because it did not name the members of the Electoral Board before the legal deadline for it. The Court gave the Assembly ten days to do it and set a deadline of an additional ten days to name a provisional Board. Well, there are now widespread rumors that the Court itself can not find one person considered to be “impartial” to both sides. If the rumor is true, this country is in more trouble that I thought it was, all our leaders are simply irresponsible!
This time around the Government not only forbade helicopter flights over the march, but it shut down the Caracas airport to make sure nobody took pictures of the six marches. A friend sends in this one taken from a high rise, showing the endpoint of the march. When I left the rally at 2 PM, I had troubles crossing a street beyond where you can see people in this image due to the density of people still marching.