PetroChina Rips Carlton's Arbitration Waffling In $1B Oil Spat

Law360, Washington (May 18, 2017, 6:31 PM EDT) -- PetroChina struck back in Texas federal court Wednesday at a Houston-based energy investor’s refusal to accept a long-sought arbitration agreement and accusations that PetroChina inserted new arguments into a dispute potentially worth $1 billion in profit sharing from an African oil field.

PetroChina Co. Ltd. and related companies had rejected the idea that they were subject to a profit-sharing agreement between Carlton Energy Group LLC and Cliveden Petroleum Co. Ltd., which the Chinese companies allegedly consumed. But they agreed in March to arbitrate, as Carlton had...
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