Worley in stock trading halt
The Australian engineering firm Worley has requested an immediate trading halt on its shares “pending it releasing an announcement.”
Arbitration
The green energy transition – clouds on the horizon?
With net zero commitments increasing pressure on the energy industry to move away from fossil fuels, there is a race to market for renewable energy projects.
Repsol and Sinopec end North Sea dispute with $2.1bn deal
Spain’s Repsol will become the 100% owner of North Sea subsidiary Repsol Sinopec Resources UK after striking a $2.1bn deal.
Awilco Drilling raising $10m for legal battle with Singapore shipbuilder Keppel
Aberdeen-headquartered Awilco Drilling (OSLO: AWDR) is raising $10m to help finance an ongoing legal case with Singapore shipbuilder Keppel FELS.
No end in sight for Rockhopper’s Italian legal battle
A legal battle between the Italian government and Rockhopper Exploration looks set to rumble on for up to two more years, as the former seeks to annul a $190m compensation award.
Shell, Exxon, others to end billion dollar Nigerian lawsuits
Shell, ExxonMobil, Chevron and Equinor plan to withdraw multibillion-dollar lawsuits against Nigeria’s state energy company after finalizing new terms for deep-water oil production in Africa’s largest crude producer.
Inpex seeks $975m compensation from Korean yard over Ichthys FPSO
Japan’s Inpex (TYO:1605) has filed a claim for $975 million against South Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) relating to the construction of a floating production storage & offloading (FPSO) vessel for its Ichthys LNG project in Australia.
Indonesia’s Medco in dispute with Libya NOC
Indonesia’s Medco Energi has started international arbitration at the ICC against the National Oil Company of Libya to enforce its contractual rights under an exploration and production sharing contract, as well as protect its right to benefit from its investment in Area 47 in the north African nation.
DP World wins another round against Djibouti on Doraleh
DP World has won another court case against Djibouti, on the Doraleh terminal, in London, while also pursuing a Chinese company on the issue.
Genel to file for Kurdistan compensation
Genel Energy will seek compensation from Kurdistan Regional Government (KRG) following the cancellation of its Bina Bawi and Miran production-sharing contracts (PSCs).
Zimbabwe faces arbitration over currency payments
A hydropower plant in Zimbabwe is taking the local utility to international arbitration over a dispute on what currency should be used in payments.
Sonangol wins back Galp stake in Dutch ruling
A Dutch arbitration court has found against Isabel dos Santos in her attempts to transfer shares from Sonangol.
Dana Gas wins arbitration challenge in Egypt
An arbitration panel has backed Dana Gas in its decision to terminate a sales agreement with IPR Energy.
Keppel set to ‘vigorously’ defend FPSO arbitration
Singapore rig builder Keppel Offshore & Marine has received a request for arbitration from an unnamed counterparty relating to two engineering, procurement and construction (EPC) contracts for floating production storage and offloading units (FPSOs).
PTTEP expects Erawan output to fall short for up to two years
Thailand’s PTT Exploration & Production (PTTEP) said it will need between one and two years to hit its contractual production target at the Erawan field offshore Thailand once it takes over from current operator Chevron.
PTTEP ‘losing hope’ in battle with Chevron for access to Thai gas field
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
Inpex takes Ichthys LNG contractors to court in Japan
Japan’s Inpex has filed a lawsuit against joint venture company JKC, which consists of KBR, Chiyoda and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Chevron pledges smooth transfer of Thai gas field to PTTEP
Chevron’s recently-appointed president Chatit Huayhongtong has pledged to ensure a smooth transfer of its Erawan gas field, now facing a legal dispute, to Thai upstream company PTT Exploration and Production (PTTEP), reported the Bangkok Post.
PTTEP warns Chevron handover at Erawan a key risk
Thailand’s PTT Exploration & Production (PTTEP) reported it is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a handover next year.
Cairn Energy attempts to seize Indian assets over tax dispute
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Shell seeks ICSID arbitration over Rivers case
Shell has filed for arbitration against Nigeria over an ongoing dispute around oil spills.
Updated: Cairn Energy shares soar as firm awarded £900m in long-running India tax row
Shares in Cairn Energy soared after the Scottish oil and gas firm announced it had prevailed in a long-running tax dispute with the Indian Government.
Awilco warns of cost saving measures on the horizon
Rig contractor Awilco Drilling has warned it will initiate a "wide range of cost saving measures".
Naturgy, Sonatrach tweak gas sales agreement
Senior Sonatrach executives have held a meeting with Naturgy to review gas agreements.
Judge dismisses Meta Energia application to set aside ruling ordering it to pay Shell almost £18m
An appeal by Meta Energia to roll back a court’s decision to award an arbitration to Shell has been dismissed.