US Court Upholds ConocoPhillips' $8.7B Arbitration

摘要

A US court upheld a tribunal's $8.75 billion award to oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the company new authority to collect on a 2019 award by a World Bank tribunal. The award includes interest that adds at least $1 billion to the amount owed to ConocoPhillips.