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Facts. A decree to nationalize all Texaco’s (P) rights, interest and property in Libya was promulgated by Libya (D). This action of the Libyan Government led Texaco (P) to request for arbitration, but it was refused by Libya (D).
Texaco v. Libya. Texaco Overseas Petroleum Co. and California Asiatic Oil Company v. Libya. Nature of the proceedings: International. Type of case: Investor-State. Date of introduction: 2 Sept 1973. Status of the case: Decided in favor of investor. Respondent: Libya. Institution: Ad hoc Arbitration (Ad hoc Arbitration) Seat of arbitration: Geneva.
The arbitration originates from fourteen Deeds of Concession concluded between 1955 and 1968 between Libya and two United States companies, Texaco Overseas Petroleum Company and California Asiatic Oil Company (hereafter called the Companies).
May 26, 2017 · The following arbitral award was rendered by a sole arbitrator in connection with disputes reen the Libyan Arab Republic ("Libya") and two international oil companies arising out of rees of nationalization promulgated by Libya.
The Libyan Nationalizations: TOPCO/CALASIATIC v. Libya Arbitration On September 1 , 1973, on the fourth anniversary of the military takeover of the Libyan Arab Republic (Libya) led by Colonel Muammar el-Qadhafi, the government of Libya announced the nationalization of 51 percent of the in-
This paper proposes to deal with arbitration in both perspectives, in the light of the TEXACO Arbitration. Thus the introductory chapter will be dedicated to analysing the role arbitration clauses played in the concession agreements through their historical development.
May 1, 2011 · The desire to exploit oil in several areas of the Libyan Desert led two United States companies, Texaco Overseas Petroleum Company (Topco) and the California Asiatic Oil Company (Calasiatic), to sign 14 Deeds of Concession with the Libyan authorities between 1955 and 1966.
