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VisitConocoPhillips Wins Court Approval to Seize PDVSA Dragon Gas Payments
Sep 27, 2024, 06:48 PM
ConocoPhillips has secured approval from a Trinidad court to seize payments to Venezuela's PDVSA for the Dragon Gas offshore project. The court's decision includes the appointment of an accounting firm as a receiver to manage the seizure of Dragon Gas payments. This move was justified by the judge due to concerns that PDVSA might relocate assets from Trinidad to avoid payment obligations to ConocoPhillips.
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Markets
No • 50%
Yes • 50%
Court records, official announcements from the appointed accounting firm or Trinidadian authorities
No • 50%
Yes • 50%
Court records, official announcements from ConocoPhillips or PDVSA, or financial statements
Yes • 50%
No • 50%
Public financial statements, court records, or official announcements from PDVSA or Trinidadian authorities
Negotiates settlement • 25%
Complies with court decision • 25%
Relocates assets • 25%
Appeals court decision • 25%
Official announcements from PDVSA, court records, or news reports
No significant impact • 25%
Significant positive impact • 25%
Negative impact • 25%
Moderate positive impact • 25%
ConocoPhillips' quarterly financial statements, official announcements, or financial news reports
Settlement reached between ConocoPhillips and PDVSA • 25%
ConocoPhillips receives full payment • 25%
ConocoPhillips receives partial payment • 25%
ConocoPhillips receives no payment • 25%
Court records, official announcements from ConocoPhillips, PDVSA, or Trinidadian authorities