LIBYAPROSPECT – Tripoli
The National Oil Corporation (NOC) won, on Saturday, two cases that were filed by Trasta Energy Limited before the International Chamber of Commerce (ICC) in Paris.
The NIOC said that the decision of the jury was final and doesn’t accept any appeal. The decision refused to compensate Trasta, pointing that the decision was issued on 5th January after four years filing the cases against the NOC.
The jury decided that the NOC has the right to get $116m plus the interests as the NOC requested.
The NOC stated that Trasta is affiliated with the Emirati Al-Ghurair Investment and the Libyan Emirati Lerco company that operates Ras Lanuf oil refinery.
The NOC pointed that the decision is a victory for it against its opponents. It is essential mentioning that in case the NOC lost the cases it would make the losses more than $10bn.