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US says enough oil supply to makeup for Conoco's actions against PDVSA

There is enough oil supply in the global market to make up for potential fuel disruptions from US oil producer ConocoPhillips' legal actions against Venezuelan state oil company PDVSA, a State Department spokesman said.


Reuters 16 May 2018, 03:20 PM United States,Venezuela Rb
  • The US company said on Tuesday it was far from collecting the full value of a USD 2 billion arbitration award against PDVSA. (Image Credit: Reuters)

There is enough oil supply in the global market to make up for potential fuel disruptions from US oil producer ConocoPhillips' legal actions against Venezuelan state oil company PDVSA, a State Department spokesman said on Wednesday.

"The US Department of State remains in contact with our partners in the Caribbean to reduce the risk of supply disruptions," Vincent Campos, spokesman for the Bureau of Energy Resources at the department said. "There is sufficient oil supply in the global market that countries can access."

The US company said on Tuesday it was far from collecting the full value of a USD 2 billion arbitration award against PDVSA after Conoco won court orders allowing it to begin seizing PDVSA assets.

Country :
United States Venezuela Rb

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