Occidental Petroleum settles dispute concerning oil rights in Yemen after successful ICC arbitration
Clients Occidental Petroleum Corporation
Jones Day successfully represented a subsidiary of Occidental Petroleum Corporation in the liability phase of an arbitration concerning oil rights in Yemen under the rules of the International Chamber of Commerce. After a two-week hearing, the panel ruled unanimously in Occidental's favor on all liability issues. The dispute was settled by a payment of US $140 million in Occidental's favor before the damages phase was tried.
Occidental Peninsula II, Inc. v. Nexen Inc.