The ongoing Rockhopper case may become a benchmark for future cases on the horizon, following Italy’s decision to crack down on hydrocarbon explorations and extractions.
Las autoridades venezolanas deben pagar un total de 8.140 millones de dólares a la compañía a una tasa de interés anual del 5,5 % por la incautación de activos de petróleo y gas de la compañía en 2007.
Developing countries’ negotiators and experts discussed the way forward during the 12th Annual Forum of Developing Country Investment Negotiators held in Cartagena, Colombia on 27 February-1 March 2019.
UK investors could seek to move their investments to jurisdiction such as Singapore and Hong Kong where they can take advantage of investment treaty protection, if a potential new Labour govenment were to nationalise public services.
Cairn Energy said it expects the long-running arbitration process against the Indian authorities over retrospective taxation to be concluded before late 2019.
The treaty is also a direct opposite of the Investor State Dispute Settlement mechanisms adopted in trade deals, as they expand the powers of transnational corporations.
Venezuela must pay ConocoPhillips more than $8 billion to compensate for the 2007 expropriation of oil assets by the country’s late socialist leader Hugo Chavez, the World Bank ruled.