Trinidad & Tobago's High Court reaffirms $1.33bn arbitration claim of ConocoPhillips against Venezuela, potentially freezing Trinidad's payments for joint gas projects.
Trinidad and Tobago's High Court has reaffirmed its decision recognising a $1.33 billion arbitration claim by US oil producer ConocoPhillips against Venezuela. This ruling could potentially freeze Trinidad's payments to Venezuela for joint natural gas projects. The court's original decision, made in May, allowed ConocoPhillips to enforce its claim against Venezuela by targeting compensation from joint energy ventures.
July 18, 2024
8 Articles