Damage to the nation for mishandling PDVSA should be investigated by the National Assembly

Ramiro Helmeyer nos comenta

Minister Rafael Ramirez from PDVSA discretion is handling nearly half of oil revenues to the country without presenting accounts of the management of these resources. From 1999-2013 have entered this way 360 000 486 million, and no one knows where this money is invested. For these «dark» handling the National Assembly must hold inquiry.

The remark was made by deputy UNT Elias Matta, a member of the Finance Committee of the National Assembly, at a press conference to denounce the country’s financial inconsistencies and mismanagement of revenues in PDVSA.

Matta said that 96 percent of the dollars entering Venezuela are the product of oil revenues through PDVSA. From 1999 to September 2013 from the sale of oil Venezuela has received 763 000 202 million dollars.

«PDVSA is left with a portion of these dollars for their investments. From 1999 to 2004, PDVSA was left with about 25 percent of the proceeds from oil revenues, but since 2005, due to the reform of the law of BCV, has come to manage nearly 50 percent of that money. Note that from 1999 to September 2013 Venezuela has oil revenues earned by 763 000 $ 202 million, of which PDVSA is left with 360 000 $ 486 million, we do not know how it is invested. »

Elias Matta stressed in the Report and Accounts of the Ministry of Energy and Petroleum no clear, nor precisely how those resources are spent. What prevails in the document is a marked inconsistency in the numbers outlined. «Where are those 360 ​​billion 486 million dollars that PDVSA has managed all these years. Who would have accounts. In the Report and Accounts, there is very little data. »

Reported that PDVSA purchased 37 thousand 550 million dollars in oil and derivatives, of which about 2 billion was spent on importing gasoline, taking Venezuela refining capacity, which contradicts the «energy independence» proclaimed by the Minister Rafael Ramirez.

As an expression of the seriousness of the crisis pointed out that PDVSA has accumulated 137 000 $ 464 million in liabilities, exceeding the assets of the company at 35 billion dollars. This is compounded by the increase in financial debt, which rose in 3000 $ 403 million in 2013, while debt to suppliers in 2000 increased $ 878 million. «I mean that we have for each Bolivar, we 1.3 bolivars.»

Rep. Elijah Matta warned that PDVSA is manipulating its accounting to show a positive balance only through devaluation and the sale of shares in a gold company is that PDVSA could show profits. «With the devaluation, impoverishing all Venezuelans is that PDVSA recovered nine billion dollars. With the sale of the gold company scored another 9 billion, this was generated without producing a barrel more than oil. »

Elias Matta stressed that PDVSA has also fallen social investment, according to the Report and Accounts of the Ministry. The contribution to the missions declined from 22 thousand 533 million dollars in 2012 to just 15 thousand 444 million dollars in 2013. Whilst the contribution to Fonden decreased from 15 thousand 572 in 2012-10000 418 in 2013, according to figures memory and has the MEP.

He added that the report of the Report and Accounts of the MEP, there was no transparency in the spending of PDVSA, a number of projects, but the amount of investment, or the amount of executed works, nor responsible companies are not specified. «For example, one thousand supposedly invested $ 673 million in road works, not the specific undertaking which this works, that resources are spent.»

Is also evidence in the report that PDVSA has decreased its production considerably, resulting in a fall in income from 8000 of $ 203 million, from 124 thousand 459 in 2012-116000 $ 256 million in 2013. «Explanation they give is that the oil basket under two dollars, recognizing that we export 169,000 barrels a day, for no reason, losing the chance to win Venezuela 6000 $ 250 million. »

Matta deputy denounced the serious contradictions between the Report and Accounts of the MEP and the report of the audit conducted by KPMG. «In the Report and Accounts presented to the National Assembly noted that the contribution to the missions was 22 thousand 533 million dollars in 2012, but the KPMG audit reflected a figure of only 25 million 9000; the same applies to contributions to FONDEM, as the Report and Accounts 15 thousand 572 million dollars, according to the KPMG audit of 8000 only 311 million. We want to know what happened here, why this inconsistency. »

Finally he said he believes that part of what is happening in PDVSA is the result of the erroneous decision by the government to lay off more than 17,000 workers who were on average 15 years of experience. «We lost 255,000 years in experience, that we are paying now PDVSA, that the fall in production that PDVSA should directly manage because we have trained people. Now working in Mexico, in the Arab, Canada, Saudi Arabia, UAE, we contribute with other countries to our ability. »

It recommended that, in this dark panorama Energy Commission and Petroleum National Assembly challenged him on the Minister Rafael Ramirez to clarify this situation that affects Venezuelans.