Oil Co. Wants $8.5M Arbitration Award Tossed In Bribery Row

Law360 (May 3, 2021, 2:45 PM EDT) -- A Saudi energy company urged a Texas federal court on Friday to ax an $8.5 million arbitration award to National Oilwell Varco Inc., arguing the arbitrator overseeing the dispute wrongfully denied it a fair opportunity to present its case.

In a motion to vacate the final award, Al Rushaid Parker Drilling Ltd. and its owner, Rasheed Al Rushaid, told the court the arbitrator wrongfully "gutted" its claims that Texas-based National Oilwell Varco Inc., or NOV, bribed ARPD employees to cover up its grossly inflated oil rig supply contracts. ARPD said the majority of the $8.5 million was then awarded to NOV...

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