Work Area: Oil and gas

Canada’s Frontera Energy has settled a pair of arbitrations with Colombian state-owned oil company Ecopetrol over terminated contracts for two of the Latin American country’s key oil pipelines.

26 November 2020

An arbitral tribunal has reportedly upheld jurisdiction over a third-party funded claim worth up to US$35 billion brought against Brazil by a minority shareholder in Petrobras over losses the state-owned oil company sustained as a result of the Lava Jato corruption probe.

25 November 2020

An Australian court has overturned the enforcement of a pair of awards in favour of a mining magnate pursuing a US$21 billion arbitration against Western Australia – as he challenges emergency legislation passed by the state government to thwart his claim.

25 November 2020

Ukraine has failed to overturn the enforcement of a US$112 million investment treaty award won by Russian oil and gas producer Tatneft – despite a finding by the Commercial Court in London that the majority of the damages awarded related to an illegal purchase of shares.

24 November 2020

A US court has granted Russia a stay of enforcement on the US$50 billion Yukos awards while the state pursues its set aside bid in the Netherlands.

23 November 2020

The UK’s Tullow Oil has withdrawn its ICSID claim against Uganda relating to a dispute over VAT after reaching a settlement with the state and its revenue authority.

19 November 2020

A US court has dismissed a renewed bid by a group of Saudi and Egyptian claimants to enforce a US$18 billion award against Saudi Aramco allegedly issued by a “sham” institution.

18 November 2020

An advocate general of the Dutch Supreme Court has recommended that enforcement of the US$50 billion Yukos awards should not be stayed while Russia seeks to have them annulled.

16 November 2020

A Singapore oil and gas company says it has settled a SIAC claim against a subsidiary of Japan’s Inpex Corporation over the purchase of a US$14 million stake in a Vietnamese offshore gas block.

12 November 2020

A US court has reversed its decision to compel discovery from a London-based hedge fund, finding Nigeria had misled the court by using evidence obtained in similar proceedings for a bid to set aside a US$10 billion award.

11 November 2020