ConocoPhillips Will Prioritize Recovery Of Venezuela Funds

Thursday, February 05, 2026

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.

Posted by LampLighter at 09:04 PM | 7 COMMENTS | permalink | Comment on This Entry |

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More from the article ...

... Lance said that while the company is cooperating with the Trump administration on Venezuela, the oil major's plans in the country have not changed significantly.

Lance added that to consider a change, there would need to be a security improvement, a constructive relationship with the local government and people, as well as durability on the policy side. ...

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

#1 | Posted by LampLighter at 2026-02-05 09:07 PM | Reply

@#1

So how much does Venezuela owe to ConocoPhillips?

Found this ...

World Bank arm says Venezuela owes nearly $9B to ConocoPhillips (2019)
www.houstonchronicle.com

... Venezuela must pay Houston's ConocoPhillips nearly $9 billion for the government's expropriation of the company's oil assets in Venezuela more than a decade ago, an international arbitration panel ruled Friday. ...

#2 | Posted by LampLighter at 2026-02-05 09:10 PM | Reply

@#2

Well, since Pres Trump now proclaims he runs Venezuela, he should be able easily to initiate that payment.

#3 | Posted by LampLighter at 2026-02-05 09:11 PM | Reply

he should be able easily to initiate that payment.

Lewzer never pays with his own money.

#4 | Posted by REDIAL at 2026-02-05 11:12 PM | Reply

Not if the money stays in Qatar under Trump's control.

#5 | Posted by jpw at 2026-02-06 11:09 AM | Reply

SURE THEY WILL

#6 | Posted by LegallyYourDead at 2026-02-06 10:58 PM | Reply | Newsworthy 1

Amazing how after the oil was seized the fishermen no longer had to be blown up.

#7 | Posted by Nixon at 2026-02-07 08:49 AM | Reply