Tal Cual has an interesting article on some of the shenanigans between the Venezuelan government, the Argentine government and Argentine companies.
It claims contracts to service some of Venezuela’s largest hydroelectric plants were awarded to Argentine companies that did not meet basic standards and were awarded without a competitive bidding. Insiders claim this was simply a result of political links between the Chávez and (Néstor) Kirchner administrations. The price was too steep (we’re talking hundreds of millions of dollars) and the services rendered practically non-existent.
The article quotes its sources as saying:
"The worst part is that, after five years of having signed the contract, the amount has now grown to 325 million dollars with no explanation given. It went from 70 to 142, then to 243 and now to 350 million dollars, with no explanation given."
(Hat tip: Miguel)