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Chevron Argentina Asset Freeze Revoked Easing Shale Venture

Argentina’s Supreme Court revoked the seizure of Chevron Corp.’s assets in the country six months after an embargo that threatened to derail plans to develop shale deposits with state-run YPF SA.

The embargo was rejected in a five-page ruling, overturning a November decision by Judge Adrian Elcuj Miranda ordering 40 percent of Chevron’s Argentine bank accounts to be held in escrow at the request of Ecuadorean plaintiffs to enforce a $19 billion award against the second-biggest U.S. oil company, according to the ruling posted late yesterday on the Supreme Court’s website.