News & Analysis as of

Oil & Gas Arbitration Awards

Proskauer - Minding Your Business

Recent Developments in International Arbitration: English Court Sets Aside Arbitral Awards in Landmark Nigeria Case

In this article series, we look at key arbitration related decisions from the past year and draw out the key lessons for users of arbitration. Arbitral awards are rarely set aside by national courts but the 2023 English...more

Carlton Fields

Third Circuit Affirms Judgment Allowing Creditors of Venezuela Who Obtained Arbitration Awards to Attach U.S. Assets of...

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The Third Circuit Court of Appeals has again allowed creditors of Venezuela to attach assets belonging to Venezuela’s national oil company to satisfy arbitration awards against Venezuela. The Third Circuit rejected...more

Morgan Lewis

Turkmenistan Takes Steps to Improve Its Business Climate

Morgan Lewis on

Turkmenistan, a holder of one of the world’s largest natural gas reserves, has recently taken steps to improve its business climate. In May 2022, Turkmenistan acceded to the New York Convention on the Recognition and...more

King & Spalding

Financial Shockwaves

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8 Key Business Takeaways From Russia’s War - Economic ripples of Russia’s invasion of Ukraine will permeate the financial, energy, retail, and agricultural sectors, among others. (A link to a related King & Spalding...more

Carlton Fields

Fifth Circuit Rejects Challenges to $147M International Arbitration Award

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The Fifth Circuit has rejected challenges under Article V of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards to a Swedish arbitration award....more

Carlton Fields

Court Confirms Arbitration Award Under FAA’s Strong Presumption in Favor of Such Awards

Carlton Fields on

This case arises from a dispute over the parties’ obligations under several oil and gas leases. The parties engaged in an arbitration pursuant to an arbitration agreement. The arbitration panel entered awards in favor of...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - April 2019 #3

Trump Signs Orders to Speed Up Oil and Gas Pipeline Construction - "President Trump signed two executive orders that he says will speed up construction of pipelines and other projects to enhance the production and...more

Orrick, Herrington & Sutcliffe LLP

Arbitration - The World in U.S. Courts: Summer - Fall 2018

FSIA Precludes Enforcement of Arbitral Award Against Property Held by the Government of India Outside the US - Hardy Exploration & Production (India), Inc. v. Government of India, US District Court for the District of...more

Patterson Belknap Webb & Tyler LLP

Venezuela Debt Update: Recent Developments in Arbitrations that Could Impact Restructuring Efforts

It’s hard to find something positive these days to write about Venezuela. Some basic facts tell the story of the misery there. Consumer prices this year might rise one million percent. The minimum wage was increased by...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - March 2018 #2

Trump Advisers Fervently Defend Tariffs (Unless They Change, That Is) - "The White House continued to sow uncertainty about the stiff tariffs President Trump said he would impose on steel and aluminum imports as key...more

Orrick, Herrington & Sutcliffe LLP

4 International Arbitration Cases To Watch In 2018

Charles Adams, the leader of Orrick’s International Arbitration & Dispute resolution team, recently spoke with Law360 regarding international arbitration cases to watch in 2018. Charles gave his thoughts on the continuation...more

Dechert LLP

Swiss Court affirms parties’ right to waive set-aside of arbitration award

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In a 17 October 2017 decision with significant implications for arbitration agreements between international parties, the Swiss Supreme Court held that the parties had validly waived their right to challenge an international...more

Pillsbury Winthrop Shaw Pittman LLP

Situs of Debt Owed under Letters of Credit

Supreme Court of England clarifies terms for enforcement of international arbitral awards in Taurus Petroleum Limited v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq [2017] UKSC 64 - The English...more

Gray Reed

Oil Field Contamination Award Upheld

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Forest Oil Corporation v. El Rucio Land and Cattle Inc. et al deserves your attention for four reasons: You won’t see another one involving damage to a rhinoceros pen...more

Eversheds Sutherland (US) LLP

ICSID Committee Annuls Nearly 90% of Award Against Venezuela

An International Centre for Settlement of Investment Disputes (ICSID) Committee has annulled nearly 90% of the US$1.6 billion Award which had been won by ExxonMobil affiliates in their ICSID arbitration against Venezuela...more

Orrick, Herrington & Sutcliffe LLP

Investing in China Key Challenges and Mitigation Strategy

In early 2005, a subsidiary of listed Hong Kong and China Gas Company Limited (0003.HK) bought a controlling stake in a Chinese joint venture company. Initial payments were made, but then the audited financial statements...more

Gray Reed

Oil and Gas Arbitration – Did the Parties Get What They Bargained For?

Gray Reed on

First, a promise: I won’t report on another arbitration case until there is more to say than “business as usual”. Second, an opinion: Arbitration is still the right forum in many situations. Third, remember: An award and a...more

Proskauer - Minding Your Business

Kazakhstan Ordered to Pay $506 Million for Crude Expropriation of Oil and Gas Investments

In a case that highlights both that governments are not above the rule of law and that it is difficult to swiftly enforce arbitral awards, a Swedish appeals court, on December 12, 2016, upheld a $506 million award against...more

Gray Reed

Arbitration in Louisiana – Another Budding Romance?

Gray Reed on

Are Louisiana courts as enamored with arbitration as their Texas counterparts? Looks like it. East of the Sabine, submitting your dispute to arbitration means you are pretty much saying adieu, farewell and bye-bye to...more

Carlton Fields

Second Circuit Upholds Confirmation Of Mexican Arbitration Award And Denial Of Comity To A Contrary Mexican Judgment

Carlton Fields on

On December 12, 2013, we reported on a United States District Court’s confirmation of a roughly $400 million Mexican arbitration award entered against an oil company affiliated with the Mexican government, notwithstanding...more

Latham & Watkins LLP

Second Circuit Affirmed Enforcement of ICC Arbitral Award Annulled Abroad

Latham & Watkins LLP on

Decision confirming an arbitral award annulled in Mexico, underscores US courts’ pro-enforcement position and highlights different approaches undertaken by courts around the world. On August 2, 2016, the United States...more

Proskauer - Minding Your Business

SCOTUS Puts an End to Ecuador’s Appeal of $96 Million Arbitration Award in Favor of Chevron

A long-running dispute between Chevron and Ecuador appears to have reached its end after the Supreme Court declined to take up Ecuador’s question of whether United States courts had jurisdiction to confirm a $96 million...more

Proskauer - Minding Your Business

Hague Court Finds Arbitration Panel Has No Jurisdiction Against Russia Pursuant to Unratified Treaty

The District Court of the Hague overturned a record $50 billion in damages awards issued by the Permanent Court of Arbitration (“PCA”), to the former controlling shareholders of the Yukos Oil Company on the grounds that...more

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