Law360, Dallas (November 26, 2014, 7:49 PM EST) -- Venezuelan subsidiaries of ConocoPhillips this week alleged in Texas state court that Venezuela’s state-run oil company Petroleos de Venezuela SA is secretly liquidating its U.S. assets in Citgo Petroleum Corp. in a bid to avoid paying expected international arbitration awards.
In a court filing Monday that would allow ConocoPhillips to depose Citgo representatives, ConocoPhillips Petrozuata BV and Phillips Petroleum Co. Venezuela Ltd. alleged Petroleos de Venezuela is taking a two-faced approach to the Citgo sale designed to shield its actions. It claims PDVSA and Venezuelan government...
Conoco Claims PDVSA Dodging Payout Via Secret Citgo Sale
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