Conoco waiting for Venezuela to pay $2 billion settlement -CEO
U.S. oil producer ConocoPhillips is still
awaiting payment from Venezuela on a $2 billion arbitration settlement reached
last month with the country’s state-run PDVSA, Chief Executive Ryan Lance said
on Wednesday. Conoco last month suspended legal attachments efforts that had
cut Venezuela’s oil exports from several Caribbean facilities following a deal
that allowed the country 90 days to make an initial $500 million payment. “I’ll
count the money when it shows up in the bank,” Lance said on Wednesday at a
Barclays energy conference in New York, in response to a question on how the
company plans to use the settlement. More…
U.S. oil producer ConocoPhillips is still
awaiting payment from Venezuela on a $2 billion arbitration settlement reached
last month with the country’s state-run PDVSA, Chief Executive Ryan Lance said
on Wednesday. Conoco last month suspended legal attachments efforts that had
cut Venezuela’s oil exports from several Caribbean facilities following a deal
that allowed the country 90 days to make an initial $500 million payment. “I’ll
count the money when it shows up in the bank,” Lance said on Wednesday at a
Barclays energy conference in New York, in response to a question on how the
company plans to use the settlement. More… 
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