Work Area: Oil and gas

Hungary’s MOL seeks to enforce against Croatia

A Hungarian oil and gas group that won a US$237 million ICSID award against Croatia after defeating the state’s bribery defence has moved to enforce it in a US court, putting the award in the public domain.

26 January 2023

Ex-Naftogaz chief accused of embezzlement over arbitration bonus

Ukrainian authorities have accused the former CEO of Naftogaz Andriy Kobolev of illegally paying himself a US$10 million bonus after the company obtained a positive result in a natural gas arbitration.

20 January 2023

US seeks early termination of Keystone XL claim

The United States has asked an ICSID tribunal to throw out a US$15 billion legacy NAFTA claim over a cancelled permit for the controversial Keystone XL pipeline project – arguing that the alleged breaches occurred after the treaty was terminated.

19 January 2023

Collapsed oil tanker merger leads to emergency request

A Belgian shipping company has filed for emergency arbitration after a US$4.2 billion merger to create the world’s largest publicly listed oil tanker company collapsed.

18 January 2023

Russian court freezes German assets ahead of billion-euro gas arbitration

A Russian court has frozen nearly US$500 million in assets belonging to German multinational Linde pending a billion-euro HKIAC arbitration that a Gazprom venture is pursuing over a suspended gas plant project.

04 January 2023

Ukrainian bank’s billion-dollar award against Russia reinstated

The French Court of Cassation has reinstated an investment treaty award requiring Russia to pay US$1.1 billion to a Ukrainian state-owned bank for expropriating its Crimean assets.

07 December 2022

Slovakia may face claim over windfall oil tax

A subsidiary of Hungarian energy group MOL has threatened to bring an international arbitration if Slovakia proceeds with plans to tax the windfall profits of companies exempt from the EU-wide embargo on Russian oil imports.

07 December 2022

Bulgaria faces new ECT claims

ICSID has registered two new Energy Charter Treaty cases against Bulgaria in the past month: a billion-euro claim brought by children of a deceased Lithuanian oil and gas entrepreneur, and a claim by a Chinese-owned solar investor.

06 December 2022

Canadian energy company to bring claim against Ecuador

UPDATED: A Canadian energy company says it will bring an UNCITRAL claim against Ecuador over the state’s alleged refusal to renew concessions for a pair of oil blocks.

06 December 2022

Gazprom faces second German gas supply claim

RWE has reportedly launched arbitration against Gazprom over halted gas supplies – a week after another German energy company Uniper brought a multibillion-euro claim against the Russian state entity.

05 December 2022

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