Breaking: Curacao courts clears way for seizure of PdVSA terminal. $650 million in assets

[GatoGordo]

A court in Curaçao authorized ConocoPhillips to seize 636 million dollars in assets of Venezuela's state oil company PDVSA, in the latest ruling in the Caribbean as part of a $ 2 billion dispute over the nationalization of the US oil company's projects in Venezuela. a decade ago

The court's decision, initially reported on Saturday by Caribbean-based Antilliaans Dagblad, indicates that the island of Curaçao may attach "oil or petroleum products, on ships and in bank deposits."

Conoco and PDVSA did not respond immediately to a request for comments.

Reuters reported on Friday that PDVSA was preparing to close the Isla refinery, with capacity to process 335,000 barrels per day, which operates in Curaçao, amid Conoco threats to seize cargoes to replenish the facility, according to two knowledgeable sources. of the situation.

The refinery has not received shipments from PDVSA since last week and plans to put an end to inventories in the coming days, according to sources.

The Venezuelan oil company says it seeks to resolve the dispute by "legal and peaceful" after the decision of the International Chamber of Commerce, which determined a few weeks ago the amount that corresponds to cancel PDVSA for the departure of Conoco from an oil project in the rich Orinoco Belt. Reuters

https://www.lapatilla.com/site/2018/05/12/corte-curazao-autoriza-a-conoco-phillips-embargar-activos-de-pdvsa/