arbitration – Oil & Gas 360

Shell takes Venture Global LNG arbitration loss to NY Supreme Court

November 11, 2025

(Oil Price)– Shell has challenged an arbitration ruling against it in the long-running dispute with Venture Global over contracted LNG supply, alleging the U.S. LNG exporter withheld information to Shell and the arbitration court. Shell has challenged the arbitration decision at the New York Supreme Court, the supermajor told Reuters on Tuesday. Shell has sued Venture Global for selling LNG on the

Venture Global wins arbitration case against Shell over contracted LNG cargoes

August 13, 2025

(BOE Report)– Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday. The company’s stock price rose almost 6% in after hour trade as investors cheered the decision. Firms, including Shell, BP, Edison and Galp, filed arbitration claims starting

Chevron completes $53 billion Hess takeover following lengthy Exxon arbitration

July 18, 2025

(World Oil)– Chevron has completed its $53 billion acquisition of Hess Corporation, having prevailed in an arbitration against ExxonMobil regarding Hess’ offshore Guyana assets, which had delayed the takeover for over a year. offshore operations in Guyana’s Stabroek block. Image: Hess The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in

ExxonMobil CEO sees Chevron arbitration over Hess purchase, assets offshore Guyana going into 2025

May 6, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies. The companies still need to appoint a third arbitrator before they go into the discovery phase, Woods said during an interview on CNBC on

Chevron resumes arbitration in Thai gas dispute

October 2, 2020

Reuters BANGKOK – U.S. energy major Chevron Corp has resumed arbitration proceedings with Thailand to try to resolve a dispute over who should pay for removing offshore assets in the country’s Erawan gas field, the company told Reuters on Friday. The move comes a year after the company suspended the legal process to allow more time for talks with Thailand’s

Russia May Be Testing U.S. Gas Nerve with Europe Push: Citi

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

August 7, 2019

From Reuters An inexorable decline in spot market prices for liquefied natural gas (LNG) is pushing utilities in Japan to be more aggressive in price reviews built into traditional long-term contracts linked to oil prices, lawyers and analysts said. The utilities are also looking to buy more LNG on the spot market, where prices LNG-AS are plumbing three-year lows and

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

July 31, 2019

From The Houston Chronicle Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award. A U.S. appeals court ruled on Monday that Crystallex International Corp. may seize U.S.-based stock of Citgo’s parent, which is part of Venezuela’s state-owned oil company, to cover

$728-Million Award for Vantage Drilling Upheld by U.S. District Court

May 20, 2019

Petrobras motion to vacate is struck down By Tyler Losier This Monday, Vantage Drilling International (stock ticker: VTGGF) announced in a press release that U.S District Court Judge Alfred H. Bennett of the Southern District of Texas had granted a petition to uphold the arbitration award Vantage had previously sought to obtain from Petrobras Brasileiro S.A. (stock ticker: PBR). As

Keystone XL: The Saga Continues

June 27, 2016

TransCanada seeks US$15 Billion from the U.S. government for breaches of NAFTA – following President Obama’s decision to nix the Keystone XL pipeline The next chapter in the Keystone XL pipeline saga is officially underway. On Friday, June 24, 2016, TransCanada Corporation (ticker: TRP) filed an official request for arbitration against the government of the U.S., under the rules of

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