Work Area: Oil and gas
Bangladeshi state entities fail to annul ICSID award
An ICSID committee has upheld a US$43 million award against two Bangladeshi state-owned entities over gas deliveries, finding “no self-evident error” in the tribunal’s conclusion that it had jurisdiction despite the claimant’s Canadian parent company pleading guilty to bribing a minister.
13 October 2023
Shell-Brunei venture brings SIAC claims
A joint venture between Shell and the Brunei government has filed two claims at the Singapore International Arbitration Centre against a Malaysian engineering contractor undergoing a US$3 billion debt restructuring.
13 October 2023
Top Dutch court refuses to reinstate freeze on Kazakh fund
Moldovan investors engaged in a decade-long campaign to enforce a US$500 million Energy Charter Treaty award against Kazakhstan have failed to reinstate a Dutch attachment against a sovereign wealth fund – after reporting favourable rulings in Sweden, the US and Gibraltar.
13 October 2023
Sinopec to bring claim against LNG supplier
China’s Sinopec is reportedly preparing to file for arbitration against a US exporter of liquefied natural gas that is already facing claims totalling US$2 billion from other energy and construction companies.
12 October 2023
Gazprom venture revealed as target of UK anti-suit injunctions
A subsidiary of Russia’s Gazprom has been revealed as the target of a set of recent English anti-suit injunction requests by German banks seeking to enforce Paris-seated ICC arbitration clauses.
11 October 2023
Shipping groups settle dispute over failed multibillion merger
A Belgian shipping company has settled an arbitration it filed against a Norwegian transporter after their US$4.2 billion merger fell through.
10 October 2023
London court rejects ECJ ruling in oil spill saga
A London court has refused to enforce an €855 million Spanish court judgment over a major oil spill after finding it would violate two earlier arbitral awards in the dispute – defying a ruling from the European Court of Justice on the issue.
06 October 2023
Yukos investors urge UK court to reject Russia’s immunity defence
The former majority shareholders of Yukos Oil Company have urged a UK court to reject Russia’s sovereign immunity defence to the enforcement of awards worth nearly US$60 billion, arguing the Dutch courts have already decided the underlying issue.
04 October 2023
Firtash suit falls foul of draft LCIA clause
A Dutch court has declined jurisdiction over various defendants in a US$500 million litigation brought by a company owned by Ukrainian oligarch Dmytro Firtash after finding that an LCIA arbitration clause in a draft contract was valid.
28 September 2023
Korean shipbuilder defeats claims over cancelled contracts
A London-seated tribunal has rejected claims worth more than US$180 million brought by a Bermudan drilling company against a Korean shipbuilder over cancelled contracts to deliver ultra-deepwater drillships.
27 September 2023