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Conoco Phillips Wins Judgement Against PDVSA #4739181
04/26/18 03:50 AM
04/26/18 03:50 AM
Joined: Oct 2014
Posts: 2,741
San Antonio, TX
Nyogtha Offline OP
Nyogtha  Offline OP

Joined: Oct 2014
Posts: 2,741
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

Last edited by Nyogtha; 04/26/18 04:11 AM.

"No matter how paranoid you are you're not paranoid enough. Tell the truth. Reach as many people as you can with it. That's your weapon." - Susanne Modeski, aka "Holly" to The Lone Gunmen
Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha] #4739197
04/26/18 04:56 AM
04/26/18 04:56 AM
Joined: Apr 2012
Posts: 10,931
Kendall, FL
wemay Offline
wemay  Offline

Joined: Apr 2012
Posts: 10,931
Kendall, FL
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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Re: Conoco Phillips Wins Judgement Against PDVSA [Re: wemay] #4739271
04/26/18 07:24 AM
04/26/18 07:24 AM
Joined: Feb 2009
Posts: 17,568
Michigan
daves87rs Offline
daves87rs  Offline

Joined: Feb 2009
Posts: 17,568
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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Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha] #4739328
04/26/18 08:05 AM
04/26/18 08:05 AM
Joined: Jun 2015
Posts: 5,353
New England
Virtus_Probi Offline
Virtus_Probi  Offline

Joined: Jun 2015
Posts: 5,353
New England
Venezuela and its oil industry circling the bowl are also other factors pushing worldwide oil prices up...


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Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha] #4739339
04/26/18 08:15 AM
04/26/18 08:15 AM
Joined: Apr 2004
Posts: 8,116
New York
pbm Offline
pbm  Offline

Joined: Apr 2004
Posts: 8,116
New York
What's really sad is that so many Americans want Venezuela type government here.....


'Journalism is Dead'
Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha] #4739428
04/26/18 09:52 AM
04/26/18 09:52 AM
Joined: Oct 2009
Posts: 4,910
Wet side WA
JohnnyJohnson Offline
JohnnyJohnson  Offline

Joined: Oct 2009
Posts: 4,910
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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Re: Conoco Phillips Wins Judgement Against PDVSA [Re: JohnnyJohnson] #4739532
04/26/18 11:32 AM
04/26/18 11:32 AM
Joined: Apr 2012
Posts: 10,931
Kendall, FL
wemay Offline
wemay  Offline

Joined: Apr 2012
Posts: 10,931
Kendall, FL
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.


2018 KIA Sportage LX 2.4 AWD:
QSAD 5W-20, PH9688

2013 Hyundai Santa Fe Sport 2.0T:
PP 5W-30, OE
Re: Conoco Phillips Wins Judgement Against PDVSA [Re: pbm] #4755311
05/12/18 07:45 PM
05/12/18 07:45 PM
Joined: Feb 2010
Posts: 2,766
Bend, Oregon
Oregoonian Offline
Oregoonian  Offline

Joined: Feb 2010
Posts: 2,766
Bend, Oregon
Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........


03' Ford Focus SE(2.3L Duratec PZEV)/ 140K +
Pnz. Ultra 0w20 / Fram 'Ultra'/ OCI: 8000 +/-
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Re: Conoco Phillips Wins Judgement Against PDVSA [Re: Nyogtha] #4755312
05/12/18 07:46 PM
05/12/18 07:46 PM
Joined: Feb 2010
Posts: 2,766
Bend, Oregon
Oregoonian Offline
Oregoonian  Offline

Joined: Feb 2010
Posts: 2,766
Bend, Oregon
Originally Posted By: pbm
What's really sad is that so many Americans want Venezuela type government here.....
How very true...........


03' Ford Focus SE(2.3L Duratec PZEV)/ 140K +
Pnz. Ultra 0w20 / Fram 'Ultra'/ OCI: 8000 +/-
ATF: Mercon V w/Lubegard Red

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