Aruba court lifts Conoco seizures affecting Citgo oil cargoes

ORANJESTAD - A court in Aruba on Wednesday lifted liens on two oil cargoes put in place by ConocoPhillips as part of a legal strategy to enforce a $2 billion arbitration decision, the latest reversal for the U.S. oil firm’s collection efforts.

Read more...

ConocoPhillips 'not close' to recouping $2 bln from PDVSA

HOUSTON - U.S. oil producer ConocoPhillips (COP.N) is far from collecting the full value of a $2 billion arbitration award against Venezuelan state oil company PDVSA [PDVSA.UL], Conoco’s chief executive said on Tuesday.

Read more...

Conoco aims to seize oil cargoes near Citgo's Aruba terminal

ORANJESTAD - U.S. oil company ConocoPhillips has brought new court actions to seize two cargoes of crude and fuel near a terminal operated by PDVSA subsidiary Citgo Petroleum in Aruba, the Aruban government confirmed on Tuesday.

Read more...

The Hague keeps tab on effects of lien on PdVSA

THE HAGUE--The Dutch Government is keeping a keen eye on the consequences that the lien placed by US oil giant ConocoPhillips on the assets of the Venezuela state oil firm PdVSA might have for Bonaire and St. Eustatius.

Read more...

ConocoPhillips is going after Isla refinery Curacao

HOUSTON, Texas/ WILLEMSTAD - ConocoPhillips is expected to renew an effort to temporarily seize Venezuela’s PDVSA oil inventories at the 335,000-barrel-per-day Isla refinery in Curaçao in the coming days, sources close to the state-run firm’s operations in the Caribbean said.

Read more...

Conoco moves to take over Venezuelan PDVSA's Caribbean assets

HOUSTON/CARACAS - U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions.

Read more...

Fitch Affirms Aruba's IDR at 'BBB-', Revises Outlook To Negative

ORANJESTAD - Fitch Ratings on ARuba says that the rating outlook has been revised form stable to negative.

Read more...

Government St. Maarten seeking refinancing options for small entrepreneurs

PHILIPSBURG--Government is currently working on securing refinancing options for small entrepreneurs in the country such as taxis, small sole proprietors, mom-and-pop shops, etc.

Read more...

Venezuela arrests ex-oil refining boss ror alleged graft

CARACAS - Venezuela has arrested the former refining boss of state oil company PDVSA for alleged corruption, two sources told the news agency Reuters on Monday, extending a crackdown on the OPEC nation’s ailing oil sector.

Read more...

Venezuela beschuldigt grote oliehandelaren van corruptie

CARACAS - De Venezolaanse staatsoliemaatschappij PdVSA beschuldigt oliehandelsbedrijven Trafigura, Vitol en Glencore van betaling van miljoenen dollars aan steekpenningen.

Read more...

Shareholder’s central bank meet

PHILIPSBURG - The annual meeting of the entitled asset holders of the Central Bank of Curaçao and St. Maarten (CBCS) was held in St. Maarten on Wednesday.

Read more...

Plan voor lagere financiering Insel Air

WILLEMSTAD - Het interim-management van Insel Air International werkt aan een alternatief reorganisatieplan om met een aanzienlijk lagere financiering dan de eerdere voorziene 5 miljoen dollar voort te kunnen.

Read more...

Again maritime and aerial blockade between Venezuela and ABC islands

WILLEMSTAD, ORANJESTAD – The Venezuelan National Institute of Civil Aviation (INAC) implemented a complete blockade between Venezuela and the ABC Islands, Aruba, Bonaire and Curaçao.

Read more...

Rebuilding of airport stalled by NAGICO refusal to pay full claim

PHILIPSBURG –The rebuilding of Hurricane Irma-damaged Princess Juliana International Airport (PJIA), one of the island’s main ports of entry and sub-hub for the Northeastern Caribbean, is stalled due to NAGICO Insurances’ refusal to swiftly assess and honour in full the airport’s multi-million-dollar insurance claim.

Read more...

Venezuelan PDVSA's refineries to run at 43 pct capacity in March

CARACAS - Venezuelan PDVSA’s refineries will operate at 43 percent of their total capacity in March due to a lack of spare parts, light crude and feedstock, according to an internal document from the state-run firm seen by Reuters on Wednesday.

Read more...

OM Nederland eist monitoring integriteitsrisico’s ING

ING wordt verdacht van vier witwas- en corruptiezaken. De bank kan vervolging voorkomen door het OM inzage te geven in toekomstige integriteitsrisico’s.

Read more...

Oliebedrijf PdVSA verder in de problemen op de Aruba, Bonaire en Curacao

CARACAS - De financiële problemen van het Venezolaanse oliebedrijf Petróleos de Venezuela (PdVSA) zijn zo groot dat de modernisering van de raffinaderij op Aruba door dochterbedrijf Citgo is vertraagd.

Read more...

Aruba government begins talks with U.S. over Aruba refinery pause

ORANJESTAD - The Aruba government said on Thursday it started talks with the United States after Houston-based firm Citgo Petroleum slowed work on an overhaul of the Caribbean island’s 235,000-barrel-per-day refinery due to a lack of credit.

Read more...

Venezuela launches world’s first Government-Backed digital currency: the Petro

CARACAS, Venezuela – Venezuela has formally launched its new oil-backed cryptocurrency, the Petro, as it seeks to pull itself out of economic crisis.

Read more...

Citgo Petroleum slows Aruba refinery revamp due to U.S. sanctions

HOUSTON / ORANJESTAD - Houston-based Citgo Petroleum has slowed work on an overhaul of its 235,000-barrel-per-day Aruba refinery due to a lack of financing stemming from U.S. sanctions on Venezuela’s state-run PDVSA, the refining firm said.

Read more...

disclaimer | privacy
© Dutch Caribbean Legal Portal | Website by Blinq Web Studio