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Conoco CEO Expects Venezuela Arbitration Result Soon

HOUSTON -(Dow Jones)- ConocoPhillips (COP) Chief Executive Ryan Lance said Wednesday that the results of an international arbitration proceeding between the oil company and Venezuela are expected soon. Conoco, which left Venezuela in 2007 after the government there decreed that the majority of the shares of its Orinoco oil belt projects should go to the Venezuelan state oil company, appealed to the international courts for compensation. Lance said that the hearing has concluded, and "now they're considering all the evidence that they've heard." "We expect a response in the near future," Lance said during the company's first shareholder meeting as an independent oil and gas producer. "Maybe by the end of the year of the early part of next year." Another oil giant, Exxon Mobil Corp. (XOM), also got its Orinoco belt assets expropriated, and received compensation earlier this year from an international arbitration panel. -By Angel Gonzalez, Dow Jones Newswires; 281-536-3064; angel.gonzalez@dowjones.com

Stock News for Conocophillips (COP)
DateTimeHeadline
02/04/201618:54:00ConocoPhillips Cuts 2016 Spending Plans, Slashes Dividend...
02/04/201608:33:00ConocoPhillips Cuts 2016 Spending Plans, Slashes Dividend...
02/04/201608:10:00ConocoPhillips Cuts 2016 Spending Plans
02/04/201608:07:00ConocoPhillips Cuts 2016 Spending Plans, Slashes Dividend
02/04/201607:59:37Current Report Filing (8-k)
02/04/201607:00:00ConocoPhillips Reports Fourth-Quarter & Full-Year 2015 Results;...
02/03/201609:35:30Statement of Changes in Beneficial Ownership (4)
02/02/201614:24:14Statement of Changes in Beneficial Ownership (4)
02/02/201614:09:56Statement of Changes in Beneficial Ownership (4)
02/02/201614:08:06Statement of Changes in Beneficial Ownership (4)
02/02/201613:55:28Statement of Changes in Beneficial Ownership (4)
02/01/201612:35:00Aker Solutions Bags ConocoPhillips Contract
01/28/201619:44:00Origin Energy Revenue Falls Despite Rise in Output
01/19/201617:31:12Statement of Changes in Beneficial Ownership (4)
01/19/201617:29:12Statement of Changes in Beneficial Ownership (4)
01/19/201617:27:06Statement of Changes in Beneficial Ownership (4)
01/19/201617:26:12Statement of Changes in Beneficial Ownership (4)
01/19/201617:22:17Statement of Changes in Beneficial Ownership (4)
01/19/201617:14:13Statement of Changes in Beneficial Ownership (4)
01/19/201616:51:25Statement of Changes in Beneficial Ownership (4)

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