We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Shell Unit’s Hunt For $1.4B Award Paused For Nigerian Courts

Law360, Washington (April 17, 2017, 5:16 PM EDT) -- A New York federal judge granted a stay Monday to Shell Nigeria Exploration and Production Co. and other entities seeking to confirm a $1.4 billion arbitral award against state-owned Nigerian National Petroleum Corp. until related litigation in Nigeria concludes.

The dispute arose under a 30-year production-sharing contract dating to 1993 between NNPC, SNEPCo, Esso Exploration and Production Nigeria (Deepwater) Ltd., and Total E&P Nigeria Ltd., with the petitioners initiating arbitration in 2009 over alleged misappropriation of oil by NNPC and tax disputes.

Meanwhile, Nigeria’s tax authorities...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.