ICSID Rejects Venezuela's Request For Reconsideration Of Ruling For ConocoPhillips
Mealey's (February 19, 2016, 11:45 AM EST) -- WASHINGTON, D.C. — A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Feb. 9 refused to reconsider its refusal to review a decision that the Bolivarian Republic of Venezuela breached its obligation to negotiate compensation for assets that were taken from investors in oil projects (ConocoPhillips Petrozuata B.V., et al. v. Bolivarian Republic of Venezuela, No. ARB/07/30, ICSID).
(Decision on reconsideration available. Document #05-160223-007X).
ConocoPhillips Petrozuata B.V, ConocoPhillips Hamaca B.V., ConocoPhillips Gulf of Paria B.V. and ConocoPhillips Co. filed arbitration with the...