ConocoPhillips Moves To Seize Venezuelan Oil Assets

Posted On May 15th, 2018 - 8:01 am | by Oil and gas press

ConocoPhillips has seized the oil product inventory of Venezuela’s state oil company PDVSA following the issuance of two court orders granting it this right as part of efforts to enforce compensation to the tune of US$2 billion awarded the U.S. company by court.

“PDVSA products from the installations of the Isla refinery have been confiscated. We don’t have any way to get them,” Reuters quoted Curacao’s economic minister as saying. Steven Martina added that the ministry will host a meeting with Conoco and PDVSA later this week to discuss the matter.

Source / More : oilprice.com

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