ConocoPhillips and Venezuela's PDVSA reach $2 billion settlement


Jay S. Auslander

August 20, 2018

With its revenues plummeting, Venezuela’s state-run oil giant has struck a deal with one of its largest international judgment creditors to avoid further export restraints on some of its most productive Caribbean crude oil facilities. In this article, Jay Auslander, a partner in the firm’s litigation group, discusses the impetus behind the deal and the prospect that ongoing liquidity issues may make this a short-lived truce.

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