01 de septiembre de 2016 14:13 PM
Actualizado el 01 de septiembre de 2016 14:17 PM
Venezuelan state-run oil company Petróleos de Venezuela (Pdvsa) won an arbitration award against Phillips 66, a subsidiary of US oil company ConocoPhillips, which demanded a USD 244.3 compensation, as reported by Pdvsa on Wednesday.
Phillips 66 sued Pdvsa for allegedly failing to comply with commitments under an “agreement for supply of Merey 16 crude to Sweeny” in Texas, signed by the parties back in 1999, AFP informed.
In a communiqué, the International Arbitration Court claimed the complaint “is technically and legally unfounded” thus compelling the US subsidiary company “to pay Pdvsa all costs including court costs worth some USD 1.5 million.”