Conoco waiting on Venezuela to pay $2 billion settlement – CEO

Sept 5 (Reuters) – U.S. oil producer ConocoPhillips is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the South American nation, Chief Executive Ryan Lance said on Wednesday.

The company last month suspended legal attachments efforts that had cut Venezuela’s oil exports following a deal that allowed the country 90 days to make an initial $500 million payment.

(Reporting by Gary McWilliams Editing by Chizu Nomiyama)

Share This:

---

More News Articles