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ICC, January 2018, National Lybian Oil Corporation v. Libyan Emirati Refining Company

The National Lybian Oil Corporation announced its victory in two ICC arbitrations with a value of at least US$ 1.4 billion. The first case against the Libyan Emirati Refining Company started in 2013, involving allegations of breaches of a crude oil supply agreement following the revolution that led to Kaddafi’s impeachment and claims relating to pricing formulas. The second case concerned the alleged breach of a shareholder’s agreement and was resolved after a two-week hearing with exchanges of evidence.

2018-02-18T20:56:56+00:00 January 31st, 2018|ICC, International awards|0 Comments

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