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Author Topic: Conoco says Venezuela will pay $2 billion arbitration award  (Read 1082 times)

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Offline Elderberry

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Conoco says Venezuela will pay $2 billion arbitration award
« on: August 20, 2018, 04:24:37 pm »
WacoTrib 8/20/2018

CARACAS, Venezuela (AP) — U.S. oil giant ConocoPhillips says it has reached an agreement with Venezuela*s state-owned oil company to recover nearly $2 billion it was awarded as part of a decade-old expropriation dispute.

Monday's statement from Houston-based Conoco says that PDVSA has agreed to recognize the judgement by an international arbitration panel and will make the first $500 million payment within 90 days and the rest over a period of some four years.

More: https://www.wacotrib.com/news/ap_texas/conoco-says-venezuela-will-pay-billion-arbitration-award/article_f2c0b203-086b-55fa-a17e-cf2a3f5ae329.html
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Offline IsailedawayfromFR

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #1 on: August 20, 2018, 04:28:05 pm »
Hope it is in US currency instead of Venezuelan.
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No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline thackney

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #2 on: August 20, 2018, 04:34:23 pm »
Quote from: IsailedawayfromFR on August 20, 2018, 04:28:05 pm
Hope it is in US currency instead of Venezuelan.

I hope it is ownership of US assets, but I know that won't happen.

Otherwise, actual oil on a ship would work too.
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Offline Fishrrman

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #3 on: August 20, 2018, 11:52:54 pm »
They'll probably receive about this much of the award:
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Offline kidd

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #4 on: August 21, 2018, 06:01:02 pm »
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Offline Drago

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #5 on: August 21, 2018, 09:10:05 pm »
"The check is in the mail".
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