Work Area: Oil and gas

Oxy loses further claim against Amazon oil block partner

An ICDR tribunal has thrown out a US$310 million claim by Occidental Petroleum against its Chinese former partner in an Ecuadorean oil block, finding it was barred by res judicata because of an earlier award.

09 August 2023

Claims loom against US gas supplier

Portuguese oil company Galp says it is considering its options over a US exporter’s alleged failure to provide contracted natural gas supplies – which has reportedly already led to three pending cases at the LCIA.

02 August 2023

Iran's central bank prepares treaty claim against Korea

The Central Bank of Iran is preparing to file a treaty claim against South Korea after local banks froze US$7 billion of assets due to sanctions – as a Texas private equity group seeks to revive a multibillion-dollar claim against the east Asian state through ICSID annulment proceedings.

01 August 2023

Bulgaria fails to knock out Lithuanian heirs' claim

An ICSID tribunal has rejected Bulgaria’s request for summary dismissal of a billion-euro Energy Charter Treaty claim brought by the children of a Lithuanian oil and gas entrepreneur.

31 July 2023

ExxonMobil faces claim over Colombian exit

A Canadian energy company says it is bringing claims against subsidiaries of ExxonMobil after the US group withdrew from an oil block in Colombia following the suspension of its fracking operations at the site.

28 July 2023

Pemex award survives Mexican appeal

A Mexican appeal court has upheld an AAA-ICDR award that threw out a US consortium’s US$200 million claim on jurisdiction and awarded US$80 million in favour of Mexico’s state oil company Pemex.

27 July 2023

Funder brings Albania award to US court

Australian disputes funder Omni Bridgeway has asked a US court to enforce an ICC award worth nearly US$15 million against Albania and its national oil company.

26 July 2023

Iran's state oil company loses appeal over Crescent award

The Court of Appeal in London has rejected the National Iranian Oil Company’s jurisdictional challenge to a US$2.4 billion award in favour of the UAE’s Crescent Petroleum.

13 July 2023

Venezuela defeats bulk of resubmitted Exxon claim

US oil and gas company ExxonMobil has won US$76 million in a resubmitted ICSID claim worth US$1.4 billion against Venezuela over the expropriation of two oil projects.

11 July 2023

European Commission formally proposes ECT withdrawal

Following failed efforts to modernise the Energy Charter Treaty, the European Commission has formally called for the EU and its member states to withdraw from the treaty in a “coordinated and orderly manner”.

07 July 2023

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