Shell, Exxon Units Can't Get $2.7B Nigeria Award Enforced

Law360 (September 4, 2019, 9:23 PM EDT) -- A New York federal judge declined Wednesday to enforce an annulled $2.7 billion arbitral award against Nigeria's state-owned oil company, dealing a blow to units of ExxonMobil Corp. and Royal Dutch Shell PLC that had won the sum following a dispute over a deepwater drilling deal.

U.S. District Judge Wiliam H. Pauley III rejected arguments from ExxonMobil subsidiary Esso Exploration and Production Nigeria Ltd. and Royal Dutch Shell subsidiary Shell Nigeria Exploration and Production Co. Ltd. that it would violate U.S. public policy to not enforce the award, which was set aside by a Nigerian court in 2012 after it determined...

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