Article Title | Sentiment | Date | Summary | Stock | Id | Author |
---|---|---|---|---|---|---|
Article Title | Sentiment | Date | ||||
ConocoPhillips sues Venezuela's PDVSA, calls bond swap 'fraudulent' | -17 | 2016-10-07 19:13:11+00 | Subsidiaries of U.S. oil company ConocoPhillips have sued Venezuelan state oil company PDVSA in Delaware, according to a court filing, accusing it of fraudulent operations involving its U.S. subsidiary Citgo. PDVSA [PDVSA.UL] said in a statement on Friday that the bond swap was "perfectly legal" and that the lawsuit did not have any legal basis. ConocoPhillips said in an Oct. 6 filing PDVSA operations, including an ongoing bond swap that uses shares in Citgo Holding Inc as collateral, are part of an effort to prevent Conoco from collecting compensation in a dispute over a 2007 nationalization of its Venezuela holdings. "These claims are one more instance of manipulation by ConocoPhillips," the Caracas-based company said in a statement, adding that operations would continue as planned. The tribunal known as ICSID in a partial ruling in 2013 said that takeover was illegal. | COP | {"Alexandra Ulmer","Brian Ellsworth"} | 479 |