Conoco to soon argue damages in Venezuela dispute - CEO

martes 13 de mayo de 2014 11:49 GYT

HOUSTON May 13 (Reuters) - Conocophillips CEO Ryan Lance on Tuesday said that his company and Venezuela's state-owned PDVSA are due to argue damages before an arbitration panel as their dispute over oil assets moves forward.

The arguments are "imminent," Lance told reporters after the company's annual meeting, adding that it was uncertain when the World Bank panel would issue a ruling.

Conoco's projects were taken over during the socialist administration of deceased former President Hugo Chavez, who led a wave of nationalizations that included the oil, electricity and steel industries.

(Reporting by Anna Driver, Editing by Franklin Paul)