Triple A Testimony Puts $100M Diesel-Subsidy Case Back in Focus
A protected-witness testimony in the Triple A and Goleada proceedings put Ecuador's fuel-subsidy controls back in focus, describing an alleged cambiazo mechanism tied to subsidized diesel and market-price resale.
The testimony came from Jose Ricardo Cevallos Avellan, a former Agencia de Regulacion y Control de Hidrocarburos (ARCH) official and former manager of companies tied to Aquiles Alvarez, Xavier Alvarez and Antonio Alvarez. He has appeared as a protected witness for prosecutors since February 2026.
Case Snapshot
| Item | Detail |
|---|---|
| Proceedings | Triple A and Goleada |
| Product | Subsidized diesel |
| Claimed state impact | USD 100 million |
| Triple A proceeding | 16 people and 6 companies |
| Goleada proceeding | 17 people |
| Trial timing | Since June 6, 2026 |
| Companies named | Ternape Petroleum, Corpalubri S.A., Flonape Overseas |
| State company named | Petroecuador E.P. |
The witness said he learned that the companies were using a method called cambiazo after questioning why profit margins were so high. The account described companies with authorization to commercialize diesel for national vessels while allegedly directing fuel to international vessels and selling it at market prices.
Invoice Trail
The Servicio de Rentas Internas (SRI) concluded that Ternape Petroleum invoiced Flonape Overseas for about 8 million gallons of diesel between October 2022 and October 2023, equivalent to about USD 13.5 million.
The testimony also identified Flonape Overseas as registered in Panama and said the firm was dissolved in October 2024, three months after the Triple A fiscal investigation began.
Business Signal
For energy and compliance watchers, the case centers on the control chain for subsidized fuel: authorization, dispatch, invoicing, vessel destination and final resale market. The named entities and public agencies make the proceeding relevant beyond politics because it touches state pricing, fuel distribution and audit exposure.
What to watch
- Whether the protected-witness testimony changes the evidentiary weight in the Triple A and Goleada proceedings.
- Whether ARCH, Petroecuador E.P. or tax records become central to proving the alleged fuel-route mechanism.
- Whether prosecutors expand scrutiny around diesel dispatches to national versus international vessels.
Source
Primicias — “"Ay, corazon, no me diga que no entiende: hacemos el cambiazo", le dijeron al delator de los casos Triple A y Goleada, que vincula a Aquiles Alvarez, segun la Fiscalia”
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