Dispute between Sharjah’s Crescent Petroleum and Iran moves to damages phase | The National:
"Sharjah’s Crescent Petroleum says an arbitration tribunal in The Hague has commenced the damages assessment phase in a long-running dispute over a gas supply contract with the National Iranian Oil Company (NIOC), in what will probably result in a multibillion-dollar award.
The dispute is being widely watched as Iran seeks to re-establish relationships with international oil companies in anticipation of sanctions being lifted should a final deal on its nuclear programme be reached this summer.
Iran, despite vying with Russia as the holder of the world’s largest gas reserves, is a net importer of gas and has struggled to follow through on agreements to supply it."
'via Blog this'
No comments:
Post a Comment