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#4739181 - 04/26/18 03:50 AM Conoco Phillips Wins Judgement Against PDVSA
Nyogtha Online   content


Registered: 10/13/14
Posts: 2252
Loc: San Antonio, TX
Conoco Phillips won a $2 billion judgement against seizure of its assets in Venezuela last decade, which of course became part of the Venezuelan national oil company PDVSA. This judgement represents about 20% of the Venezuelan government reserves. What remains to be seen is CoP actually collecting the judgement it was awarded.

https://www-foxnews-com.cdn.ampproject.o...ezuela.amp.html


And Chevron has evacuated its workers from Venezuela in the wake of employees being arrested on charges of treason for not signing an inflated supply contract agreement, previously posted. See also in the article below how many companies (not all American) have written off their investments in Venezuela and / or are awaiting overdue payments.


https://mobile-reuters-com.cdn.ampproject.org/c/s/mobile.reuters.com/article/amp/idUSKBN1HW2BD


Edited by Nyogtha (04/26/18 04:11 AM)
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#4739197 - 04/26/18 04:56 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha]
wemay Offline


Registered: 04/04/12
Posts: 8701
Loc: Southeast Florida
The arrests of Chevron executives pushed them over the edge. I would pull out every asset asap if i were one of these multinationals.
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#4739271 - 04/26/18 07:24 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: wemay]
daves87rs Offline


Registered: 02/23/09
Posts: 16918
Loc: Michigan
Originally Posted By: wemay
The arrests of Chevron executives pushed them over the edge. I would pull out every asset asap if i were one of these multinationals.



Agreed. Things are going to get nasty....
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#4739328 - 04/26/18 08:05 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha]
Virtus_Probi Offline


Registered: 06/25/15
Posts: 3934
Loc: New England
Venezuela and its oil industry circling the bowl are also other factors pushing worldwide oil prices up...
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#4739339 - 04/26/18 08:15 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha]
pbm Offline


Registered: 04/19/04
Posts: 7532
Loc: New York
What's really sad is that so many Americans want Venezuela type government here.....
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#4739428 - 04/26/18 09:52 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha]
JohnnyJohnson Offline


Registered: 10/22/09
Posts: 2595
Loc: Wet side WA
Now the only trick is going to be getting the money when was the last time you ever saw a communist country that honored any court decision that went against them.
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#4739532 - 04/26/18 11:32 AM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: JohnnyJohnson]
wemay Offline


Registered: 04/04/12
Posts: 8701
Loc: Southeast Florida
Originally Posted By: JohnnyJohnson
Now the only trick is going to be getting the money when was the last time you ever saw a communist country that honored any court decision that went against them.


Exactly.
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#4755311 - 05/12/18 07:45 PM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: pbm]
Oregoonian Offline


Registered: 02/06/10
Posts: 2760
Loc: Bend, Oregon
Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........
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#4755312 - 05/12/18 07:46 PM Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha]
Oregoonian Offline


Registered: 02/06/10
Posts: 2760
Loc: Bend, Oregon
Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........
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Pnz. Ultra 0w20 / Fram 'Ultra'/ OCI: 8000 +/-
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