Conoco Court Win Sends Venezuela's Gas Money Up In Smoke

ConocoPhillips has taken a significant step forward in its long-standing battle to recover payments from Venezuela's state oil company, PDVSA. On September 27, 2024, a Trinidadian court approved ConocoPhillips' request to seize payments that PDVSA would have received for its role in the Dragon Gas offshore project. This ruling follows years of legal wrangling over compensation for assets nationalized by the Venezuelan government. The court appointed an accounting firm as a receiver to facilitate the process. Judge Frank Seepersad cited concerns…