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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
09/02/201517:37:04Statement of Changes in Beneficial Ownership (4)
09/02/201517:35:26Statement of Changes in Beneficial Ownership (4)
09/02/201517:34:38Statement of Changes in Beneficial Ownership (4)
09/02/201517:32:19Statement of Changes in Beneficial Ownership (4)
09/01/201509:00:00ConocoPhillips Safely Delivers First Oil at Surmont 2
08/28/201514:00:00ConocoPhillips to Present at the Barclay’s CEO Energy-Power C...
08/21/201508:28:00Statoil Shaves Arctic Gas Pipeline Cost
08/17/201518:05:08Statement of Changes in Beneficial Ownership (4)
08/07/201506:41:25ConocoPhillips Seeking Buyer For Indonesian Assets
08/04/201517:05:41Statement of Changes in Beneficial Ownership (4)
08/04/201517:03:02Statement of Changes in Beneficial Ownership (4)
08/04/201517:01:17Statement of Changes in Beneficial Ownership (4)
08/04/201516:59:29Statement of Changes in Beneficial Ownership (4)
08/04/201513:47:53ConocoPhillips To Book $400 Million Charge To Cancel Deep-water...
08/04/201512:03:54Quarterly Report (10-q)
07/30/201511:58:29Morning MoneyBeat: Second-Quarter GDP Could Support September...
07/30/201508:00:11ConocoPhillips Cuts Capital Spending Plans
07/30/201507:55:29Current Report Filing (8-k)
07/30/201507:55:06ConocoPhillips Cuts Capital Spending Plans
07/30/201507:00:00ConocoPhillips Reports Second-Quarter 2015 Results; Announces...

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