ConocoPhillips settles with Venezuela's PDVSA to recover $2 billion

(Reuters) - U.S. oil producer ConocoPhillips said on Monday it has settled with Venezuela's state-run oil company, PDVSA, to recover about $2 billion for early dissolution of some joint ventures following the nationalization of the country's oil industry.The settlement follows a ruling by the International Chamber of Commerce (ICC) in April that ordered PDVSA to pay Conoco $2 billion.