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Posted: Aug 24, 2022 5:47 AMUpdated: Aug 24, 2022 6:42 AM
Judge: Venezuela Owes Nearly $9 Billion to ConocoPhillips
Tom Davis / OKEnergyToday.com / Bloomberg.com
ConocoPhillips comes away with a recent court victory in which a federal judge in Washington, D.C. ruled the company was due nearly $9 billion from Venezuela after the company seized its interests in oil projects.
But will ConocoPhillips ever be able to collect? That’s the looming question following Friday’s ruling by U.S. District Judge Carl Nichols who said Venezuela should pay about $8.7 billion. Bloomberg reported the judge issued an order to enforce an arbitration award won in 2019 by ConocoPhillips.
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