Feb 24 Venezuelan state oil company PDVSA
said on Friday it expects an arbitration panel in Paris to reach a decision on
its dispute with PetroSaudi Oil Services Ltd over an offshore drilling rig in
the final months of this year. PDVSA is seeking damages for what it says was
"poor performance" by the rig which worked in the Caribbean waters
off Venezuela's eastern Sucre state. "The Arbitral Tribunal, which has
heard the reasons for the contractual disputes, is expected to issue a Final
Award during the fourth quarter of this year," the company said in a
statement. More…
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