10:18 AM EDT, 10/10/2024 (MT Newswires) -- (Updates with ConocoPhillips' ( COP ) response in the third paragraph.)

ConocoPhillips ( COP ) received multiple licenses from the US government that will better position the company to recover some or all of the roughly $10 billion owed to it by Venezuela, Bloomberg reported Thursday, citing people familiar with the matter.

The owed debts are tied to the country's seizing and nationalization of ConocoPhillips' ( COP ) assets over a decade ago, the report said.

"We are committed to pursuing all available legal avenues to protect our rights and obtain a full and fair recovery of the awards in recognition of our fiduciary responsibility to our shareholders," a ConocoPhillips ( COP ) spokesperson told MT Newswires via email. "All our collection activities are done in accordance with all applicable laws and regulations."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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