The U.S. government had sided with Venezuela, arguing that
ruling for the company could harm foreign relations and lead other countries to
retaliate against American interests. The case began after Venezuela’s former
president Hugo Chavez issued a decree seizing control of the oil rigs owned by
U.S. driller Helmerich & Payne International Drilling Co. The company
refused to operate them after Venezuela’s state-owned oil company fell more
than $100-million behind in payments. Chavez said the “forced acquisition” was
necessary to put the idled rigs back to work. More…
No comments:
Post a Comment