Conoco wins US$9 billion in Venezuela claim
A view of the Orinoco river in Venezuela (Credit: istock.com/nicolasdecorte)
US oil company ConocoPhillips has been awarded nearly US$9 billion plus interest in an ICSID claim against Venezuela over the expropriation of oil assets in the Orinoco Belt, ending a fraught 12-year proceeding that saw multiple changes to the tribunal.
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