ConocoPhillips has embargoed two cargoes of crude oil and fuel at a storage terminal in Aruba operated by Venezuelan PDVSA’s U.S. subsidiary Citgo, Reuters reports citing the Aruba government. The embargo, covering one tanker loaded with 500,000 barrels of crude oil and another carrying 300,000 jet fuel, gasoline, and diesel, is part of Conoco’s aggressive push to enforce a US$2-billion compensation that a court awarded in a case against PDVSA for the forced nationalization of two oil projects in Venezuela by the government of the late Hugo Chavez. Citgo has gone to court in an attempt to remove the embargo, arguing the cargoes belong to it and not its parent company. Earlier this week, Conoco seized a 10-million-barrel oil terminal property of PDVSA on another Caribbean island, Bonair, as well as fuel stored at a terminal on Curacao, where PDVSA operates a 335,000-bpd refinery. The refinery may soon have […]