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...
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