Work Area: Oil and gas
Magnate sees setback in Australian mining dispute
An Australian court has overturned the enforcement of a pair of awards in favour of a mining magnate pursuing a US$21 billion arbitration against Western Australia – as he challenges emergency legislation passed by the state government to thwart his claim.
25 November 2020
UK court enforces award against Ukraine despite “illegality”
Ukraine has failed to overturn the enforcement of a US$112 million investment treaty award won by Russian oil and gas producer Tatneft – despite a finding by the Commercial Court in London that the majority of the damages awarded related to an illegal purchase of shares.
24 November 2020
Yukos awards stayed in US
A US court has granted Russia a stay of enforcement on the US$50 billion Yukos awards while the state pursues its set aside bid in the Netherlands.
23 November 2020
UK oil company withdraws claim against Uganda
The UK’s Tullow Oil has withdrawn its ICSID claim against Uganda relating to a dispute over VAT after reaching a settlement with the state and its revenue authority.
19 November 2020
Saudi Aramco again escapes US$18 billion enforcement bid
A US court has dismissed a renewed bid by a group of Saudi and Egyptian claimants to enforce a US$18 billion award against Saudi Aramco allegedly issued by a “sham” institution.
18 November 2020
Dutch court adviser rejects Russia’s call to stay Yukos awards
An advocate general of the Dutch Supreme Court has recommended that enforcement of the US$50 billion Yukos awards should not be stayed while Russia seeks to have them annulled.
16 November 2020
Vietnamese gas block dispute settles at SIAC
A Singapore oil and gas company says it has settled a SIAC claim against a subsidiary of Japan’s Inpex Corporation over the purchase of a US$14 million stake in a Vietnamese offshore gas block.
12 November 2020
Nigeria improperly used discovery for set aside bid, US court says
A US court has reversed its decision to compel discovery from a London-based hedge fund, finding Nigeria had misled the court by using evidence obtained in similar proceedings for a bid to set aside a US$10 billion award.
11 November 2020
Azerbaijani state entity prevails in billion-dollar case
An LCIA tribunal has reportedly awarded damages to Azerbaijan’s national oil company in a billion-dollar dispute with a Turkish shipping group, whose founder has accused the state entity of providing false testimony that led to his imprisonment.
09 November 2020
ICSID panel sets conditions for lifting stay of Conoco award
An ICSID annulment committee has agreed to lift a stay of enforcement on ConocoPhillips’ US$9 billion award against Venezuela subject to conditions – while again refusing to exclude lawyers instructed by the country’s opposition leader Juan Guaidó.
04 November 2020