ConocoPhillips says PDVSA agreed to pay $2 bn to settle dispute
owned oil company PDVSA was once the crown jewel of Venezuela's now imploding economy (AFP Photo/Federico PARRA)/ Washington (AFP) - Venezuela has agreed to pay a $2 billion settlement to US oil giant ConocoPhillips, to stop the seizure of the South American nation's assets, the American firm announced Monday. PDVSA, the state oil company once the crown jewel of Venezuela's now imploding economy, will make initial payments of $500 million over the next 90 days, ConocoPhillips said in a statement. In return, ConocoPhillips said it agreed to ...
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