ConocoPhillips won approval on Friday to enforce an $8. 5 billion arbitral award against Venezuela despite the country ignoring the litigation for more than two years, after a federal judge in Washington, D. C. , ruled that Caracas’ chances of success in an ongoing annulment proceeding are minimal. Turning first to the fact that the country had opted not to enter an appearance in the case, U. S. District Judge Carl J. Nichols concluded that Venezuela did not have a good reason for ignoring the litigation. By Caroline Simson. Full Text -> Law360

Traducción de cortesía -> ConocoPhillips obtuvo la aprobación el viernes para hacer cumplir un laudo arbitral de 8.500 millones de dólares contra Venezuela a pesar de que el país ignoró el litigio durante más de dos años, luego de que un juez federal en Washington, D.C. dictaminara que las posibilidades de éxito de Caracas en un procedimiento de anulación en curso son mínimas. Volviendo primero al hecho de que el país había optado por no comparecer en el caso, el juez federal de distrito Carl J. Nichols concluyó que Venezuela no tenía una buena razón para ignorar el litigio.

An interim receiver has been appointed by the courts over some Venezuelan assets in Jamaica at the request of ConocoPhillips as part of a long-running, multi-jurisdictional bid by the American oil giant to get compensation for the expropriation of… Full Text -> The Gleaner

-Venezuela’s state-owned oil company blasted two ConocoPhillips subsidiaries for trying to get Citgo shares as compensation for a $2 billion arbitral award, arguing in Delaware federal court that the subsidiaries “muddy the waters” since they lack proper licensing for such an arrangement. Phillips Petroleum Co. Venezuela Ltd. and ConocoPhillips Petrozuata BV are just two companies trying to nab shares from Citgo — commonly called the “foreign crown jewel” of Venezuela oil — after winning an arbitral award from Petróleos de Venezuela SA for unlawfully nationalizing natural resource projects. Full Text -> 360Law

Two ConocoPhillips subsidiaries looking to enforce a $2 billion arbitral award against Venezuela are saying U. S. sanctions don’t preclude a Delaware court from issuing an attachment order over Citgo’s parent company, even as the country’s state-owned oil company dismissed those claims as a “hail Mary” argument. Full Text -> Law360

The ability of two ConocoPhillips subsidiaries to obtain a seizure order against shares in Citgo’s parent company to enforce a $2 billion arbitral award against Venezuela’s state-owned oil company appeared to rest on Thursday on a Delaware judge’s interpretation of a New York forum selection clause. U. S. District Judge Leonard P. Stark expressed skepticism during a Thursday hearing that the ConocoPhillips’ units litigation does not involve questions relating to a potential breach by Petróleos de Venezuela SA of the parties’ settlement agreement, which contains a provision requiring that disputes arising under it be resolved in New York. Full Text-> Law360

US multinational energy firm ConocoPhillips has petitioned a US court to allow shares in Citgo, the US subsidiary of PDVSA, to be used to pay a $2 billion debt plus interest over the nationalization of assets in Venezuela in 2007. Full Text-> MacauBusiness

A Dutch ConocoPhillips unit is urging a New York federal court not to pause its efforts to enforce a $33.7 million arbitral award against Venezuela’s state-owned oil company , Full text -> Law360