Venezuela asks ICSID to review Tidewater ruling

摘要

Caracas-The Venezuelan government wants the International Centre for Settlement of Investment Disputes (ICSID) to review its decision that found in favor of a Tidewater claim that state-owned PDVSA owes the US-based oil field services company $46.4 million for vessels expropriated in 2009. “Venezuela has a solid basis to ask for a significant reduction in the amount of compensation,” according to a statement issued Saturday by the Ministry of Petroleum and Mining On March 13, ICSID issued a ruling on Tidewater’s claim. Tidewater initially requested compensation of $234 million.