ConocoPhillips will involve Citgo Petroleum in an attempt to obtain Pdvsa assets

ConocoPhillips aims to involve Citgo Petroleum, a refining unit in the United States of Venezuela's national oil company PDVSA, in its legal battles to claim compensation of $ 2 billion obtained in arbitration for the nationalization of its active in Venezuela. 19659003] A Houston judge ruled on Thursday (July 5th) that the American oil producer could include Citgo in preparation for a lawsuit against PDVSA for asset transfers in the Caribbean that, according to Conoco, was seeking to thwart his claims. Attempts to keep assets Citgo declined to comment, citing ongoing litigation policy

Conoco is satisfied with the court's decision, said a spokesman in a statement. The company has not received payments from PDVSA for compensation and intends to go ahead, he added.

The decision means a new setback for the Venezuelan oil company, which is struggling to pay its debts. Conoco alleges that PDVSA has transferred crude oil and fuels stored in the Isla refinery and Bullenbay terminal in Curaçao to Citgo to prevent it from confiscating oil and enforcing the International Chamber of Commerce, according to its presentation in Houston court

Conoco's property in Venezuela was expropriated in 2007 after the late President Hugo Chávez nationalized several oil projects by forcing them to become jointly controlled enterprises. by PDVSA.