Trinidad And Tobago Court Recognizes ConocoPhillips' $1.33B Claim Against Venezuela's PDVSA, Gives It Green Light To Enforce It; Conoco Seeks To Attach Any Proceeds Or Investment Reimbursement From Joint Gas Developments Between Venezuela And Trinidad
Portfolio Pulse from Benzinga Newsdesk
A court in Trinidad and Tobago has recognized ConocoPhillips' $1.33 billion claim against Venezuela's PDVSA and has given the green light for enforcement. ConocoPhillips aims to attach any proceeds or investment reimbursements from joint gas developments between Venezuela and Trinidad.
May 30, 2024 | 4:09 pm
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ConocoPhillips has received court approval in Trinidad and Tobago to enforce a $1.33 billion claim against Venezuela's PDVSA. This could lead to ConocoPhillips attaching proceeds from joint gas developments between Venezuela and Trinidad.
The court's decision allows ConocoPhillips to enforce a significant financial claim, potentially leading to substantial revenue recovery. This legal victory is likely to positively impact ConocoPhillips' stock in the short term.
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IMPORTANCE 90
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