ConocoPhillips Will Prioritize Recovery Of Venezuela Funds, CEO Says

CEO Ryan Lance said on Thursday in a call with investors that the oil major will focus on recovering money owed under existing legal judgements in Venezuela.

ConocoPhillips’ focus in Venezuela is on recovering outstanding balance in the country.

CEO Ryan Lance said on Thursday in a call with investors that the oil major will focus on recovering money owed under existing legal judgements in Venezuela.

In response to a question about the company’s Venezuela operations, Lance said ConocoPhillips is “focused on the pathway to get some recovery on what's owed to us in Venezuela,” adding that it is the company’s “first priority right now.”

The comments come even as U.S. President Donald Trump has been urging American oil firms to rebuild Venezuela’s energy resources.

Shares of COP were down 3.07% at the time of writing.

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