PdV settles with Sinopec for unpaid steel debts

摘要

Chinese state-controlled Sinopec will withdraw a lawsuit against Venezuelan state-owned PdV in a US federal court in Houston for non-payment relating to a $43.5mn debt outstanding since May 2012. The 27 November suit alleged that Sinopec “suffered tens of millions of dollars in damages” because of PdV’s refusal to pay for 450,000t of steel rebar.