Organisation: PDVSA

Ecuador has applied to enforce a costs award after defeating a US$145 million treaty claim brought by an engineering company that was found to have engaged in corruption.  

02 January 2024

PDVSA and Curaçao’s state-run refining company have settled a US$1.7 billion ICDR dispute over the Venezuelan state oil company’s management of a refinery on the island.

20 December 2023

A US appeals court has upheld the enforcement of two tortilla flour producers’ US$626 million award against Venezuela, finding that it could not second guess an ICSID annulment committee’s refusal to recognise counsel designated by the country’s government-in-exile.

14 December 2023

Lucas Bastin KC told GAR Live Sydney that Australia could become the “stand out” jurisdiction for enforcement of awards against state assets – as its courts possess “execution powers that do not exist” in other countries with equivalent state immunity legislation.

28 November 2023

ExxonMobil has applied to a court in Washington, DC, to enforce an ICSID award worth over US$985 million plus interest and costs against Venezuela in a 16-year saga over the expropriation of two oil projects.

23 November 2023

An ICC tribunal has ordered Venezuela’s national oil and gas company PDVSA to pay around US$52 million to a Brazilian construction group for terminating contracts to build two gas processing facilities.

22 August 2023

ExxonMobil has joined a line of Venezuela’s creditors seeking to take part in the court-supervised auction of an interest in a state-owned refinery business, which is reportedly valued at US$13 billion.

16 August 2023

Miriam Harwood has left Squire Patton Boggs, where she was co-head of investment arbitration, to launch an international arbitration practice at US firm Katten Muchin Rosenman.

27 July 2023

US oil and gas company ExxonMobil has won US$76 million in a resubmitted ICSID claim worth US$1.4 billion against Venezuela over the expropriation of two oil projects.

11 July 2023

In the latest Hugo Grotius Lecture on International Arbitration in Madrid, Claudia Salomon spoke about how the overused but beautiful metaphor for peace in the bible's Book of Isiah – turning swords into plowshares – captures the purpose of the ICC Court. 

29 June 2023