A lawyer for a subsidiary of Houston-based ConocoPhillips mentioned a courtroom within the Dutch Antilles had approved it to grab $1.94 billion value of belongings held on Bonaire island by Venezuela’s state oil firm, PDVSA.
Conoco is searching for to get well $2 billion in a dispute over expropriation of its oil initiatives by Venezuela’s economically struggling socialist authorities. The lawyer spoke on situation of anonymity as a result of he wasn’t approved to talk to reporters.
The seizure of the oil storage terminal on Bonaire adopted the same ruling in current days permitting Conoco to grab $636 million value of belongings on the close by island of Curacao.
The dispute with Conoco threatens to disrupt Venezuela’s already depressed oil exports and value 1000’s of jobs within the Dutch Caribbean.