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Oil Supplier Appeals Conoco's Right To Buy Stake In Refinery Unit

2015-09-30 02:11:01| Oil & Gas - Topix.net

In a long-standing dispute between Venezuelan state-owned Oil Company Petroleos de Venezuela SA and ConocoPhillips, a New York district court judge upheld ConocoPhillips' acquisition of a 50% stake in a Texas refinery. The two parties were former joint partners in an oil refining operation but disagreements between them led to the triggering of a contract provision that automatically dissolved the joint venture.

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