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ConocoPhillips wins US$2 billion against PDVSA

Houston based company ConocoPhillips obtained US$2 billion award against Venezuela/iStock.com/RoschetzkyIstockPhoto

US oil company ConocoPhillips has been awarded US$2 billion, one of the largest International Chamber of Commerce (ICC) awards in history, in a case against Venezuela's national oil and gas company PDVSA for the expropriation of two heavy crude oil projects more than a decade ago.

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