By John Lee. Genel Energy has confirmed that there will be no further legal challenge in its dispute with the Kurdistan Regional Government (KRG) regarding the Bina Bawi field. In April, the company announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) […]
By Umud Shokri, for the Middle East Forum. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. What Does Iraq's $1.47 Billion Arbitration Victory over Turkey Mean for the Future? The Paris Court of Appeal has strengthened Iraq in its long-standing case with Turkey. Turkey […]
By John Lee. Iraq has prevailed in an international arbitration case brought by Orange against the Republic of Iraq and the Communications and Media Commission (CMC), with all of the company's claims dismissed by the International Center for Settlement of Investment Disputes (ICSID). The Ministry of Justice said the outcome was the result of sustained […]
By John Lee. His Excellency Dr Salih Husain Ali Al-Tamimi, Ambassador of Iraq to the United Kingdom, received Mohammed Al-Issawi, a member of the International Chamber of Commerce (ICC), to review opportunities for expanding international economic collaboration. Discussions covered the ICC's role in supporting the global business environment, including its work to facilitate cross-border trade […]
From the United Nations Development Programme (UNDP). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Forum on Commercial Arbitration Supports Stronger Investment Environment in Iraq The United Nations Development Programme (UNDP) Iraq joined leading national institutions and private sector partners this week in Baghdad […]
By John Lee. Ukrzemresurs LLC, a Ukrainian gas producer and operator of the Akkas gas field in Iraq since 24 April 2024, has announced that it has filed a claim with the International Court of Arbitration of the International Chamber of Commerce (ICC) to protect its rights as operator and investor under the Gas Development […]
By John Lee. Iraq's Ministry of Justice has announced successfully winning a lawsuit before the Judicial Court in Paris. The case was filed by the Gulf Falcon Company, which had sought arbitration and a claim of USD 49 million against the Iraqi government. According to the Director General of the Legal Department at the Ministry, […]
By John Lee. Genel Energy plc has announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) to pay the Kurdistan Regional Government (KRG) a total of $26.87 million in recoverable costs. The ruling follows a claim brought by the KRG in December […]
Genel Energy has announced its audited results for the year ended 31 December 2024. Paul Weir, Chief Executive of Genel, said: "In 2024, we demonstrated further progress on our journey of building towards delivering resilient, diversified cash flows. Our shift from cash outflow in 2023 to cash generation in 2024 has been important, and in […]
By John Lee. An arbitration tribunal has been appointed in the case of Agility Public Warehousing Company K.S.C. v. Republic of Iraq (ICSID Case No. ARB/17/7). Its members are: Sarah Grimmer (New Zealand), President, appointed by agreement of the Parties; Stephen L. Drymer (Canadian), appointed by Claimant; and Dr. August Reinisch (Austrian), appointed by Respondent. […]
By John Lee. Iraq's Ministry of Justice has said it has successfully defended Iraq in a $1-billion international arbitration case filed by Germany's AHG Industry GmbH & Co. KG at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). According to the statement from the Ministry on Tuesday (11th March), the dispute stemmed […]
By John Lee. The Kurdistan Regional Government (KRG) has issued a statement following its arbitration win in a dispute with Genel Energy. Genel announced last week that a British court had dismissed its claim for damages from KRG for loss of Genel's rights to develop the Bina Bawi and Miran fields in Iraqi Kurdistan. According […]
