Venezuela to pay billions of dollars in compensation to ConocoPhillips
![Photo: Ritzau Scanpix/AP/Mathias Delacroix](https://photos.watchmedier.dk/watchmedier/resize:fill:3840:0:0/plain/https://photos.watchmedier.dk/Images/article11242590.ece/ALTERNATES/schema-16_9/venezuela-str%25C3%25B8mnedbrud.jpg)
Venezuela will pay USD 8.7 billion to US oil major ConocoPhillips in compensation for the expropriation of oil by the country's former president Hugo Chávez, held a ruling from the International Centre for Settlement of Investment Disputes (ICSID).
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