Venezuelan state-owned oil company PDVSA said it would
appeal a U.S. federal court ruling upholding ConocoPhillips' acquisition of its
stake in a delayed coking unit at a Texas refinery. "PDVSA is convinced
the decision is incorrect and that the acquisition was unlawful. Therefore, a
notice of appeal will be filed shortly to continue defending PDVSA's
interests," the oil company said in a statement released Wednesday. PDVSA and
Conoco formed a 50-50 joint venture in the late 1990s to operate the unit at
the refinery, Venezuela's state-run AVN news agency said Wednesday. AVN noted
that Phillips 66, which was spun off from Conoco in 2012, currently owns and
operates the coking unit and the rest of the Sweeny refinery, located in Old
Ocean, Texas. More… 
Thursday, September 10, 2015
Venezuela's PDVSA to appeal ruling favoring Conoco in Texas refinery case
Venezuelan state-owned oil company PDVSA said it would
appeal a U.S. federal court ruling upholding ConocoPhillips' acquisition of its
stake in a delayed coking unit at a Texas refinery. "PDVSA is convinced
the decision is incorrect and that the acquisition was unlawful. Therefore, a
notice of appeal will be filed shortly to continue defending PDVSA's
interests," the oil company said in a statement released Wednesday. PDVSA and
Conoco formed a 50-50 joint venture in the late 1990s to operate the unit at
the refinery, Venezuela's state-run AVN news agency said Wednesday. AVN noted
that Phillips 66, which was spun off from Conoco in 2012, currently owns and
operates the coking unit and the rest of the Sweeny refinery, located in Old
Ocean, Texas. More… 
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