Because Venezuela had breached the contract by not supplying
crude and not contributing further investment to the venture, ConocoPhillips
was able to take PDVSA's share of the refinery for literally zero - free,"
says Russ Dallen, an international lawyer who follows Venezuela's cases as head
of investment bank Caracas Capital Markets. "Venezuela's 50% of Sweeney
had been valued at between $352 million and $540 million." More… 
Thursday, September 10, 2015
ConocoPhillips Takes Venezuela Refinery as ICC Award Enforced in US Court
Because Venezuela had breached the contract by not supplying
crude and not contributing further investment to the venture, ConocoPhillips
was able to take PDVSA's share of the refinery for literally zero - free,"
says Russ Dallen, an international lawyer who follows Venezuela's cases as head
of investment bank Caracas Capital Markets. "Venezuela's 50% of Sweeney
had been valued at between $352 million and $540 million." More… 
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