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Conoco Phillips gets Trinidad Judge to appoint company to seize PDVSA Dragon Gas payments
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Conoco Phillips gets Trinidad Judge to appoint company to seize PDVSA Dragon Gas payments
Sep 28, 2024 12:21 AM

HOUSTON, Sept 27 (Reuters) - Conocophillips ( COP ) on Friday

got a Trinidad court to approve the seizing of payments to

Venezuela for the Dragon Gas offshore gas project when it agreed

to the appointment of an accounting firm as a receiver to go

after the payments.

Judge Frank Seepersad said his decision was made as there is

a risk that PDVSA will move assets from Trinidad's jurisdiction

to avoid paying ConocoPhillips ( COP ), and pointed to PDVSA's

relocation of its European Headquarters to Moscow as an example

of it in the past avoiding its legal obligations.

(Reporting by Curtis Williams in Houston)

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