FE Today Logo
Search date: 27-08-2018 Return to current date: Click here

Venezuela, Trinidad and Tobago sign oil partnership agreement

PDVSA files appeal against Crystallex court ruling


August 27, 2018 00:00:00


The corporate logo of the state oil company PDVSA is seen at a gas station in Caracas, Venezuela — Reuters

CARACAS, Aug 26 (Xinhua): Venezuelan President Nicolas Maduro and Prime Minister of Trinidad and Tobago Keith Rowley signed a gas and oil partnership agreement on Saturday after a meeting between the leaders.

"We have signed a very important document that will permit the generation of physical and monetary wealth for Venezuela and Trinidad and Tobago, coming from joint gas fields," Maduro said, describing the meeting as "intense, productive, and positive."

Rowley expressed appreciation to Maduro for agreeing to related negotiations, adding that he hoped "in the very near future, Venezuelan gas will reach the international market where it will be monetized for the benefit of the people of Venezuela and Trinidad and Tobago."

Maduro called for cultivating good relationships between neighboring nations of the region and said that Latin America and the Caribbean has everything necessary to be a strong region.

Reuters adds: Venezuela's state oil firm Petroleos de Venezuela SA (PDVSA) said on Saturday it filed an appeal requesting that a Delaware court vacate a decision on Aug. 23 granting Canadian miner Crystallex the right to seize its US assets.

In a statement on Twitter, PDVSA said it had filed a petition on Friday to the 3rd US Circuit Court of Appeals to direct the Delaware District Court to acknowledge it had been "divested of jurisdiction with respect to PDVSA and its property."

US District Judge Leonard Stark in Delaware on Thursday had granted a so-called writ of attachment to Crystallex for shares of PDVSA's US subsidiary PDV Holdings, owner of US oil refiner Citgo.

Crystallex has been seeking payment on a $1.4 billion award to compensate it for the 2008 nationalization of its gold mining operations by the now cash-strapped Venezuelan government.


Share if you like