Analysts Offer Insights on Energy Companies: Phillips 66 (NYSE: PSX) and Venture Global, Inc. Class A (NYSE: VG)Commerce (“ICC”) Arbitration informed VGCP that a partial final award had been issued in the previously disclosed arbitration proceedings with BP Gas Marketing Limited regarding LNG sales from the the long-term LNG sales and purchase agreement entered into by VGCP and BP (the “SPA”). Among other remedies, BP is seeking damages in excess of $1.0 billion, as well as interest, costs and attorneys’ fees. The award issued by the arbitration tribunal found that VGCP had breached its obligations to declare COD of the a timely manner and act as a “Reasonable and Prudent Operator” pursuant to the SPA, along with certain other obligations. Remedies will be determined in a separate damages hearing, which has not been scheduled but is anticipated to occur in 2026. A final award is expected to follow the damages portion of the hearing.