Nigeria has completed all three of its accession reports but the Energy Charter Conference placed restrictions on ECT accession finalization procedures, placing Nigeria’s accession path into a state of pause.
Ecuador has 60 days to make the payment and has already contacted Perenco to start negotiations. In 2020, the country inked a $6.5 billion emergency deal with the IMF.
The Ecuadorean country will have to face a millionaire sum for Perenco oil company after a ruling by a panel formed under the auspices of the World Bank’s International Center for Settlement of Investment Disputes.
After four unsuccessful negotiation rounds, and with a fifth round starting this week that does not bring any silver linings in terms of outcome, the time has come for the EU and its member states to leave the ECT.
The British Virgin Islands high court rejected the TCC plea for attachment of the Pakistan International Airlines assets but also imposed a $5 million cost as well as $50,000 penalty on the company.