Venezuela Loses 3rd Reconsideration Bid In Conoco Row

An international tribunal on Tuesday declined to undo a 2013 decision finding Venezuela had improperly nationalized ConocoPhillips' interests in three oil projects, but took the opportunity to clarify that the tribunal in the underlying decision had not found Venezuela had acted in bad faith. Led by tribunal president Eduardo Zuleta, along with Andreas Bucher and L. Yves Fortier, the International Centre for Settlement of Investment Disputes tribunal refused Venezuela's third bid to reconsider the 2013 decision on jurisdiction and the merits, which had been issued by…More…