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Syrian Royalty Owner Can't Revive Shell Affiliate Suit

Law360, Dallas (May 11, 2017, 6:58 PM EDT) -- A Texas appellate court Thursday held the owner of a royalty interest in Syrian oil and gas properties is time-barred from claiming it was fraudulently induced into entering into a settlement with a Shell Oil Co. affiliate that operated the property.

Though a Texas state court jury in 2014 found Shell affiliate Pecten Orient Co., formerly known as Pecten Syria Petroleum Co., had fraudulently induced Syrian American Oil Corp. SA into entering a 1989 settlement agreement tied to royalties from Syrian oil and gas production, the...
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