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Author Topic: Conoco says Venezuela will pay $2 billion arbitration award  (Read 1671 times)

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Offline Elderberry

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Conoco says Venezuela will pay $2 billion arbitration award
« on: Monday, Aug 20, 2018 08:24 am »
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: Monday, Aug 20, 2018 08:28 am »
Hope it is in US currency instead of Venezuelan.
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Offline thackney

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #2 on: Monday, Aug 20, 2018 08:34 am »
Quote from: IsailedawayfromFR on Monday, Aug 20, 2018 08:28 am
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: Monday, Aug 20, 2018 03:52 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: Tuesday, Aug 21, 2018 10:01 am »
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Offline Drago

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Re: Conoco says Venezuela will pay $2 billion arbitration award
« Reply #5 on: Tuesday, Aug 21, 2018 01:10 pm »
"The check is in the mail".
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