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Conoco has seized Venezuela PDVSA products from Isla refinery: Curacao

Conoco has seized Venezuela PDVSA products from Isla refinery: Curacao© Reuters. The logo of the Venezuelan oil company PDVSA is seen on a tank at Isla refinery in Willemstad on the island of Curacao

(Reuters) – U.S. oil major ConocoPhillips (N:) has seized products belonging to Venezuelan state oil company PDVSA [PDVSA.UL] from the Isla refinery it runs on Curacao, an island official told Reuters on Sunday.

“PDVSA products from the installations of the Isla refinery have been confiscated. We don’t have any way to get them,” said Steven Martina, Curacao’s minister for economic development, who did not provide the volume or value of the seized products.

Martina added that Curacao was planning to meet with PDVSA and Conoco this week to discuss the arbitration dispute that has led Conoco to seize Venezuelan assets in the Caribbean, wreaking havoc on PDVSA’s export chain.

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Source: Investing.com

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