ConocoPhillips ask court to defer ruling on awards overlap until auction held

ConocoPhillips on Friday asked a U.S. court to put off a decision on overlaps among its awards against Venezuela for past expropriations until proceeds from an auction of shares in a Citgo Petroleum parent are known.

Conoco is pursuing three claims totaling more than $11.5 billion in a U.S. District Court in Delaware. Its judgments include a provision requiring a deduction for partial overlaps in two of the awards.

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