ICSID Reconstitutes Tribunal In Oil Project Dispute With Venezuela

(August 12, 2015, 11:50 AM EDT) -- WASHINGTON, D.C. — After an unsuccessful attempt by the Republic of Venezuela to disqualify the majority of a tribunal hearing in a case filed against it by investors in extra-heavy oil projects and the resignation of one arbitrator, the International Centre for Settlement of Investment Disputes (ICSID) on Aug. 10 reconstituted the tribunal and noted that the case will proceed (ConocoPhillips Petrozuata B.V., et al. v. Bolivarian Republic of Venezuela, No. ARB/07/30, ICSID).

BIT Claims

ConocoPhillips Petrozuata B.V, ConocoPhillips Hamaca B.V., ConocoPhillips Gulf of Paria B.V....
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