Venezuela suggests ready to pay after Conoco moves on its Caribbean assets

CARACAS (Reuters) – Venezuela on Thursday rejected ConocoPhillips’s moves to seize the country’s Caribbean assets to collect on a $2 billion arbitration award, but in a sign the U.S. oil company’s pressure might be working, Caracas also suggested it was ready to pay.

FILE PHOTO: A worker walks past a mural with a PDVSA logo at its gas station in Caracas, Venezuela August 29, 2014. REUTERS/Carlos Garcia Rawlins/File Photo

In its first official comments since Reuters revealed Conoco’s actions over the weekend, Venezuela’s cash-squeezed leftist government said PDVSA [PDVSA.UL] wanted to solve the dispute through legal means. The dispute stems from Venezuela’s nationalization of Conoco’s assets a decade ago under late leader Hugo Chavez.

PDVSA “is committed to honoring the decisions…

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