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

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...
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.