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Petronas files for arbitration over Sudan’s assets seizure
PETROLIAM Nasional Bhd (Petronas) has led a request for arbitration at the International Centre for Settlement of Dispute in the absence of positive development on Sudan’s transitional government’s decision to confiscate the company’s assets in Khartoum, Sudan.
Talos Energy files notice with Mexico over disputed oil field
Houston-based Talos Energy intends to fight the decision by the Energy Ministry to designate the state oil company Pemex as the operator of the Zama field, which contains almost 700 million barrels of oil.
Cairn accepts $1 billion refund offer, to drop cases against India within days: CEO
Cairn Energy will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.
Kazakhstan would ‘welcome’ new arbitration in Stati dispute
Kazakhstan has welcomed what it calls an opportunity for an independent arbitral tribunal to carry out “a free and fair review of the Statis’ fraud”.
Death by a thousand treaties
Governments must urgently terminate all international investment treaties in force, in particular the Energy Charter Treaty, and stop negotiating new ones.
NGOs urge Slovenia’s minister to propose EU exit Energy Charter Treaty
Slovenian environmental NGOs have called on infrastructure minister Jernej Vrtovec to use the country’s EU presidency to propose a political discussion on the bloc exiting the Energy Charter Treaty.
Blockading global Green New Deals
Tackling trade and investment agreements must be an essential step in achieving justice-oriented action on climate change, health inequities and economic injustice.
The Irish Spanish Solar sues Spain in the ICSID for the cut in premiums to renewables
Spanish Solar demands compensation from the Spanish Government for having cut the premiums for the use of energy once the investments have been made.
XL pipeline absurd $15 billion NAFTA ISDS claim
TC Energy expects to get 15 times more money, coming from taxpayers’ pockets, than the asset losses it experienced from the revocation of a permit, that was already denied twice.
Ex-Yukos unit wins new $5 billion court judgement against Russia
The Permanent Court of Arbitration ruled that Russia illegally expropriated loans provided by Yukos Capital Sarl to its former parent company.
Outrage as Italy faces multimillion pound damages to UK oil firm
Secretive tribunals allow fossil fuel companies to sue governments for passing laws to protect environment.
Britain’s Cairn gets French court order to seize 20 Indian properties in Paris
The centrally located properties mostly comprise flats, valued at more than EUR 20 million, used by the Indian government establishment in France.
Leaked diplomatic cables show ‘limited progress’ in Energy Charter Treaty reform talks
Little progress has been made to modernise a controversial agreement on energy investments that activists warn could derail decarbonisation efforts in Europe and across the globe, according to leaked documents.
’Disgusting’: Pipeline company files $15 billion claim against US for canceled Keystone XL
TC Energy Corporation filed for compensation under a free trade provision that allows investors to sue governments if they impede profits.
More than 400 civil society organisations say: Leave the ECT by COP26
More than 400 are calling on political leaders across all European countries to prioritise climate policies, to stick to their climate commitments, and therefore to initiate withdrawal from the Energy Charter Treaty by COP26.
US$15 billion ISDS claim against USA over Keystone XL oil pipeline cancellation
TC Energy has lodged a US$15 billion Investor-State Dispute Settlement claim against the US government.
Ecuador to seek ’payment plan’ for award to French oil company
Ecuador has 60 days to make the payment and has already contacted Perenco to start negotiations. In 2020, the country inked a $6.5 billion emergency deal with the IMF.
Ecuadorean state should pay $412 million to Perenco after losing legal dispute
The Ecuadorean country will have to face a millionaire sum for Perenco oil company after a ruling by a panel formed under the auspices of the World Bank’s International Center for Settlement of Investment Disputes.
The Cairn $1.4 billion award is patently illegal
The arbitral award has condoned the tax avoidance scheme adopted by Cairn Energy.
Denying India its tax revenue is neo-colonialism. Cairn Energy is the new East India Company!
The perverse interplay of BITs with double taxation avoidance agreements has been bleeding India from the much-needed tax revenues.