Work Area: Oil and gas

Exxon files ICC claim over US$53 billion takeover

ExxonMobil has launched an ICC claim against its partner in a valuable oil block off the coast of Guyana, potentially disrupting a US$53 billion takeover deal.

07 March 2024

Russian court restrains Czech arbitration against Gazprom

A Russian court has ordered a Czech state-owned gas transporter to halt a Prague arbitration against Gazprom’s exports arm or face a €113 million penalty.

07 March 2024

BP pursues contractor on West African LNG project

BP is preparing to file an arbitration worth more than US$530 million against embattled US construction group McDermott over its failure to perform a contract to install subsea pipelines for an LNG project on the maritime border of Senegal and Mauritania.

05 March 2024

Panama sees off ICSID claim by biofuels investor

Panama has defeated a US$100 million ICSID claim brought by an Italian-owned company that alleged the state had expropriated its biofuel operations and wrongfully fined it for environmental pollution.

04 March 2024

Paris court issues trio of Libya decisions

The Paris Court of Appeal has upheld its earlier ruling permitting Libya to appeal the enforcement of a €280 million award – the third judgment the court has issued in recent months involving the state or entities it owns.

27 February 2024

UK oil company instructs counsel for claim against Ireland

A London-listed oil and gas company has instructed counsel as it prepares to file the first known investment treaty claim against Ireland, for which it is also seeking third-party funding.

26 February 2024

Slovenia denied security in fracking case

An ICSID tribunal has declined to order a UK company to post security for costs in a €656.5 million claim over Slovenia’s blanket ban on fracking for natural gas.

23 February 2024

Chinese consortium brings claim over Cyprus LNG project

A Chinese consortium is pursuing a €200 million claim in a London arbitration against two Cypriot state-owned entities over a delayed project to construct a liquefied natural gas terminal.

21 February 2024

Dutch court rejects Russia’s fraud challenge to Yukos awards

A Dutch appeal court has rejected Russia’s arguments that awards worth US$60 billion in favour of the former majority shareholders of Yukos were tainted by procedural fraud, finding that the allegations were time-barred and unlikely to have changed the outcome of the arbitration.

20 February 2024

US energy company threatens claim against Equatorial Guinea

A Houston-based energy company has reportedly threatened to file an arbitration against Equatorial Guinea over the alleged termination of its contract for an offshore gas field.

19 February 2024

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