Arbitration court dismisses Venezuela's annulment request of Conoco award

Reuters

2025/01/23

HOUSTON, Jan 23 (Reuters) - A World Bank arbitration tribunal has dismissed a request by Venezuela to annul a $8.37 billion arbitration award to U.S. oil producer ConocoPhillips COP.N for the expropriation of its assets in the South American country.

The decision by the International Centre for Settlement of Investment Disputes (ICSID), seen by Reuters on Thursday, was communicated to the parties in the case this week, according to ICSID's webpage.

(Reporting by Marianna Parraga)

((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))

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