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Tuesday, 1 August 2017

UPDATE 1-Dana Gas, partners awarded arbitration payments in KRG dispute

UPDATE 1-Dana Gas, partners awarded arbitration payments in KRG dispute:

"Dana Gas and its consortium partners have been awarded $14 million plus interest in a dispute with Iraq's Kurdistan Regional Government (KRG), the UAE company said on Tuesday.

The case was filed with the London Court of International Arbitration in 2013 over payments for gas liquids production.

The court ordered the KRG to pay $14 million along with an interest rate of Libor plus 2 percent as a first partial payment for the legal costs incurred, Dana said in a statement."



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