China Oil Co. Says Arbitration Next In $1B Africa Oil Field Row

Law360, New York (April 4, 2017, 9:00 PM EDT) -- PetroChina Co. Ltd. and related entities told a Texas federal judge on Monday that their submission to arbitration in an African oil field dispute potentially worth $1 billion settles the only purpose of Carlton Energy Group LLC's lawsuit, despite Carlton's request for further action from the court.

The Chinese companies relented last month after having resisted Carlton's 2012 lawsuit to compel their participation in arbitration in its pursuit of a 10 percent profit share in a massive oil field in the Republic of Chad from Cliveden...
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