Conoco Phillips Wins Judgement Against PDVSA

[Nyogtha]

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

 

[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.

 

[daves87rs]

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....

 

[Virtus_Probi]

Venezuela and its oil industry circling the bowl are also other factors pushing worldwide oil prices up...

 

[pbm]

What's really sad is that so many Americans want Venezuela type government here.....

 

[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.

 

[wemay]

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.

 

[Oregoonian]

Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........

 

[Oregoonian]

Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........