Work Area: Oil and gas
Venezuela fails to annul ConocoPhillips award
An ICSID annulment committee has upheld an award that ordered Venezuela to pay around US$9 billion to ConocoPhillips over the expropriation of three oil projects.
23 January 2025
Slovakia defeats ICSID claim by US oil investor
An ICSID tribunal has rejected a US oil and gas company’s US$133 million treaty claim against Slovakia over the state’s alleged failure to prevent a drilling project becoming disrupted by local protests.
20 January 2025
Dutch court upholds enforcement of Iranian gas award
The Hague Court of Appeal has refused to overturn the enforcement of an award worth US$2.75 billion won by the UAE’s Crescent Petroleum against the National Iranian Oil Company.
17 January 2025
Former Gazprom unit settles with Indian state entity
India’s state-owned gas company GAIL says that a former Gazprom unit has agreed to pay US$285 million to end their LCIA dispute over disrupted LNG supplies.
16 January 2025
Billion-dollar award confirmed in Colombian refinery case
A US court has confirmed an ICC award worth US$1.3 billion in favour of a Colombian state-owned entity over an oil refinery project, aiding its pursuit of recovery from insurers.
14 January 2025
Petrobras wins another dispute with investors over Lava Jato
Brazil’s state-run oil and gas company Petrobras says it has defeated another arbitration brought by foreign shareholders in the wake of the Lava Jato corruption scandal.
13 January 2025
Singapore court revives ICC claim over Pakistani gas blocks
The Singapore International Commercial Court has ruled that an ICC tribunal was wrong to decline jurisdiction over a claim against a Pakistani oil and gas company and must continue hearing the case.
08 January 2025
Petrobras hit with ICC claim over subsea pipelines
The buyer of a Brazilian onshore oilfield has brought a US$71 million claim against Petrobras over the state-run company’s alleged failure to complete repair works on subsea pipelines essential to the project.
07 January 2025
UK oil company wins tax dispute with Ghana
London-listed Tullow Oil says it has won an ICC award against Ghana affirming the company is not liable for a US$320 million tax bill imposed in respect of its oilfield operations off the country’s coast – while disputes over two other tax assessments continue.
03 January 2025
Gazprom venture settles Kazakh gas supply dispute
An affiliate of Russia’s Gazprom says it has settled a billion-dollar arbitration with an Eni-Shell consortium over supply of gas from the Karachaganak field in Kazakhstan.
02 January 2025