PDVSA Appeals Conoco's Right To Buy Stake In Refinery Unit

By Matt Sharp (September 10, 2015, 10:03 PM EDT) -- Venezuelan state-owned oil company Petroleos de Venezuela SA plans to appeal after a New York federal judge upheld ConocoPhillips' acquisition of its 50 percent stake in a coking unit at a Texas refinery, setting the stage for the latest round in the long-running dispute.

PDVSA said in a statement that U.S. District Judge Alison J. Nathan's Sept. 1 decision to confirm an International Chamber of Commerce International Court of Arbitration award allowing ConocoPhillips to buy its stake of the unit at the once jointly owned Merey Sweeny refinery was incorrect.

"PDVSA is convinced that the decision is incorrect and that the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!