Re: ConocoPhillips Wins $2B In Claim Against Venezuela Oil Co.

Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

Reply New Message

Prev Message Back To Forum Threaded View Next Message

KRY_Chaser

Rank: Vice President [?]

Points: 1130 [?]

Votes: 8 Score: 4.5 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: ConocoPhillips Wins $2B In Claim Against Venezuela Oil Co.

in response to

Re: ConocoPhillips Wins $2B In Claim Against Venezuela Oil Co.

Don-wys

posted on Apr 25, 2018 10:22PM

Nope, Conoco will not wait for $5 million monthly payments from Venezuela.

They will go for CITGO head first. $2 billion now and $4 billion from the ICSID award (it is in the award calculation phase) will do the trick. They will first put a lien on the property and wait for a couple of month for a cash payment. If / when it does not materialize, Conoco will execute an attachment order.

The Conoco lawyers will register the ICC award in NY "yesterday", to get the process underway.