Federal Judge Confirms ICC Award For ConocoPhillips Over Joint Venture Interests

Mealey's (September 2, 2015, 1:22 PM EDT) -- NEW YORK — After finding that two subsidiaries of a Venezuelan oil company failed to present sufficient evidence as to why an international arbitration award issued in relation to a joint venture that governed oil refining operations should be vacated, a New York federal judge on Sept. 1 granted a cross-petition filed by ConocoPhillips Co. to confirm the award in its favor (PDV Sweeny, Inc., et al. v. ConocoPhillips Co., et al., No. 14-cv-5183, S.D. N.Y.; 2015 U.S. Dist. LEXIS 116175).

(Opinion available. Document #05-150922-008Z.)...
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