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Aruba court suspend Conoco seizures affecting PDVSA Citgo cargoes -source

 

 

By Reuters

HOUSTON
Petroleumworld 05 24 2018

A court in Aruba on Wednesday lifted the seizures of two oil cargoes that ConocoPhillips sought as part of a move to satisfy a $2 billion arbitration award over the nationalization of its projects in Venezuela, according to a source familiar with the decision.

Aruba's Court of the First Instance said the owner of a crude cargo and a fuel cargo off Aruba was not Venezuela's state-run PDVSA but its U.S. subsidiary Citgo Petroleum.

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Reporting by Sailu Urribarri and Marianna Parraga; Editing by Tom Brown from Reuters.

reuters.com /
05 23 2018

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