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ConocoPhillips Wins $2 Billion Arbitration Against Venezuela

ConocoPhillips says it won a $2 billion arbitration award against Venezuela's state oil company over the seizure a decade ago of investments in two projects in the OPEC nation. The award represents the equivalent of more than 20 percent of the cash-strapped Venezuelan government's foreign currency reserves. The Houston-based company said in a statement the ruling against PDVSA was made by an international tribunal constituted under the rules of the International Chamber of...

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