XLE - Oil Giant ConocoPhillips Asks Court to Hit Pause on Venezuela Asset Auction: Report | Benzinga
On Friday, ConocoPhillips (NYSE:COP) reportedly asked a U.S. court to postpone its decision on overlapping awards against Venezuela until the proceeds from the auction of shares in a Citgo Petroleum parent are determined.
The U.S. District Court in Delaware is overseeing an auction of shares in a Houston-based Citgo Petroleum parent company to address $21.3 billion in claims related to Venezuela’s past expropriations and debt defaults, as per Reuters.
The auction is ...