Nigeria and offshore company square off over arbitration award

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Россия Новости Новости

The African country is seeking to overturn a ruling ordering it to pay billions after a gas deal with Process & Industrial Development collapsed

A bitter face off between Nigeria and an offshore company over an $11bn arbitration award intensified last week as lawyers traded accusations of corruption and ineptitude in a London courtroom.

Africa’s largest economy is seeking to overturn a 2017 ruling that ordered it to pay billions in damages after a gas deal with Process & Industrial Development went sideways. The contract in question was struck in 2010, when Nigeria agreed to provide two decades’ free gas to a facility P&ID would build in the country in exchange for processed gas for electricity generation.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 12. in RU

Россия Последние новости, Россия Последние новости