U.S. Clears ConocoPhillips to Recover Venezuela Assets

ConocoPhillips has received new U.S. licenses that could help the company recover up to $10 billion owed by Venezuela, an anonymous source has told Bloomberg. The debt stems from the Venezuelan government's nationalization of ConocoPhillips' assets over a decade ago. The licenses allow the company to pursue its claims against Petroleos de Venezuela SA (PDVSA), the state-owned oil giant, without violating U.S. sanctions. Although the licenses don't permit ConocoPhillips to resume operations in Venezuela, they enable the company to pursue legal action…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com