(Nick Cunningham, OilPrice.com, 6.Jun.2018) — Venezuela might have to declare force majeure on its oil exports as production plunges and its ports are unable to ship enough crude. The ongoing meltdown in Venezuela’s oil sector could tighten the oil market more than expected. Reuters reported Tuesday that Venezuela is considering […]
Tag: Curazao
Conoco Authorized to Seize $636 Mln in PDVSA Assets
(Reuters, 13.May.2018) – A Curacao court has authorized ConocoPhillips to seize about $636 million in assets belonging to Venezuela’s state oil company PDVSA due to the 2007 nationalization of the U.S. oil major’s projects in Venezuela. The legal action was the latest in the Caribbean to enforce a $2 billion […]