(Energy Analytics Institute, 2.Nov.2023) — ConocoPhillips chairman and CEO Ryan Lance updated the analyst community on the company’s situation regarding Venezuela and recently started auction process for assets of Houston-based refinery Citgo Petroleum during a recent conference call.
“We’re in a process with the Venezuelans right now. They also have a considerable amount of money through both our ICSID and our ICC claims, approaching over $8bn. They own some, on the full judgment on the ICC, they still owe us $1.4bn-$1.5bn,” Lance said 2 Nov. 2023 responding to questions during ConocoPhillips’ third quarter 2023 conference call with analysts.
