Region: Iran, Islamic Republic of

There are now two vacant spots on a tribunal hearing a US$32 billion gas dispute between UAE-based Crescent Petroleum and National Iranian Oil Company, after co-arbitrator Klaus Sachs resigned shortly after the removal of tribunal president Laurent Aynès.

11 May 2023

The UAE’s Crescent Petroleum has obtained a ruling from a court in Greece enforcing its US$2.4 billion award against the National Iranian Oil Company.

28 April 2023

The ICC Court has given its reasons for upholding a challenge brought by the National Iranian Oil Company against arbitrator Laurent Aynès, who was chairing a tribunal hearing its US$32 billion dispute with UAE petroleum company Crescent.

25 April 2023

Iran is reportedly taking steps to bring arbitrations against Sudan over military contracts signed before relations between the two states broke down seven years ago.

20 April 2023

Eversheds Sutherland has taken over as co-counsel to an Iranian family in a bilateral investment treaty claim against South Korea arising from the state’s delay in paying a BIT award from an earlier arbitration.

05 April 2023

Laurent Aynès has been disqualified as president of the arbitral tribunal hearing a US$32 billion case over a gas supply contract brought by Crescent Petroleum against Iran's national oil company.

27 March 2023

Documents leaked to GAR shed light on efforts by Iran's national oil company to disqualify the tribunal president in a US$32 billion arbitration with Crescent Petroleum, a challenge that is supposed to be decided this week.

14 March 2023

Iran has reportedly threatened to bring an US$18 billion arbitration against Pakistan over a gas pipeline project disrupted by US sanctions.

09 March 2023

The final hearing of a US$32 billion case against Iran's state-run oil company has been postponed less two than two weeks before it was due to begin, after Wolfgang Peter and his team at Peter & Kim resigned over an alleged due process failure and co-counsel from Eversheds Sutherland followed suit.

06 March 2023

On the heels of an unsuccessful challenge to the whole tribunal, the National Iranian Oil Company is seeking to disqualify Laurent Aynès from continuing as tribunal president in a US$32 billion dispute with the UAE’s Crescent Petroleum because of his alleged ongoing failure to disclose his and his firm’s involvement in similar proceedings.

03 March 2023