ConocoPhillips Signs $2 Bln Settlement with PDVSA

Monday, August 20, 2018

U.S. oil producer ConocoPhillips said on Monday it has settled with Venezuela's state-run oil company, PDVSA, to recover about $2 billion in arbitration payment.

The International Chamber of Commerce awarded ConocoPhillips that amount in April after PDVSA failed to uphold various contractual commitments.

ConocoPhillips began seizing PDVSA's overseas assets in May.


(Reporting by Nivedita Bhattacharjee; Editing by Anil D'Silva)

Categories: Energy Finance Legal

Related Stories

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

Current News

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com