Work Area: Oil and gas

A pair of Guatemalan renewable energy investors are pursuing a DR-CAFTA claim against Honduras, as a group of US claimants drop their bid to revive a case against Nicaragua under the same free trade agreement.

22 September 2023

Houston’s Occidental Petroleum has agreed to pay a net sum to Yemen to settle awards rendered in two ICC arbitrations relating to the same oil block, bringing an end to enforcement proceedings in Delaware.

22 September 2023

Spanish energy company Repsol has reportedly filed a US$100 million ICC claim against US exporter Venture Global – the fourth known case the supplier is facing over its alleged failure to provide contracted deliveries of liquefied natural gas.

21 September 2023

As Bangladesh contends with an energy crisis, details of two concluded arbitrations against state entities in that sector have come to light – including one where a contractor unsuccessfully argued that an influx of Rohingya refugees from Myanmar prevented it from building a solar park.

20 September 2023

South Korea has confirmed the transfer of billions of dollars of Iranian funds that were frozen four years ago because of US sanctions – and gave rise to the threat of an investment treaty claim by Iran’s Central Bank.

19 September 2023

A UK-based energy company has asked a US court to freeze US$151 million in funds held by Citibank pending an ICC arbitration with Chad over an oil pipeline venture – putting an emergency arbitrator order in the public domain.

04 September 2023

An ICC tribunal has declined to hear a UK energy company’s US$200 million claim against a Swiss commodities trader over an oil field in the Republic of the Congo – finding no basis to extend an arbitration clause to non-signatories.

29 August 2023

An ICC tribunal has ordered Venezuela’s national oil and gas company PDVSA to pay around US$52 million to a Brazilian construction group for terminating contracts to build two gas processing facilities.

22 August 2023

A law firm advising Rosneft has confirmed the Russian state-controlled energy company is preparing an investment arbitration against Germany over the seizure of oil refinery assets.

17 August 2023

ExxonMobil has joined a line of Venezuela’s creditors seeking to take part in the court-supervised auction of an interest in a state-owned refinery business, which is reportedly valued at US$13 billion.

16 August 2023