China Petroleum & Chemical Corporation negotiates settlement in lawsuit alleging breach of exclusive dealing arrangement
Clients China Petrochemical International Co., Ltd., et al
Jones Day represented D.Q.G. Petroleum Services ("D.Q.G.") and Dian-Qian-Gui Petroleum Exploration Bureau of Sinopec, two subsidiaries of China Petroleum & Chemical Corporation in a lawsuit brought in state court in Houston, Texas by General Turbine Systems of Texas ("GTS"). GTS alleged that it has the exclusive right to all of the drilling rigs D.Q.G. and the Bureau bring into North America. GTS also sought a permanent injunction enforcing its exclusive right to the drilling rigs, and GTS alleged damages in excess of U.S. $50 million. Jones Day was able to settle the lawsuit for less than 1/100th of one percent of the damages alleged.
General Turbine Systems of Texas, Inc. v. D.Q.G. Petroleum Services, Inc., et al., No. 2006-55976 (Harris Cty., Tex.)