Houston — Conocophillips on Friday got a Trinidad court to approve the seizing of payments to Venezuela for the Dragon Gas offshore gas project when it agreed to the appointment of an accounting firm as a receiver to go after the payments.Judge Frank Seepersad said his decision was made as there is a risk that PDVSA will move assets from Trinidad’s jurisdiction to avoid paying ConocoPhillips, and pointed to PDVSA’s relocation of its European Headquarters to Moscow as an example of it in the past avoiding its legal obligations.
Reporting by Curtis Williams in Houston – Reuters
