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World Bank tribunal lowers ConocoPhillips award

Sep. 03, 2019 3:41 AM ETConocoPhillips (COP) StockCOPBy: Yoel Minkoff, SA News Editor5 Comments
  • A World Bank arbitration panel has lowered an initial $8.7B award to ConocoPhillips (NYSE:COP) by $227M as compensation for Venezuela's 2007 expropriation of its assets.
  • The company "does not challenge" the action, a ConocoPhillips spokesman declared. "We remain committed to pursuing all available legal avenues to obtain a full and fair recovery of the award."

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