Home / Politics / French site: UAE company “Trasta” fails to cancel a fine of $ 115 million in favor of the National Oil Corporation.

French site: UAE company “Trasta” fails to cancel a fine of $ 115 million in favor of the National Oil Corporation.

The French website Africa Intelligence reported, Thursday, that the UAE company, Trasta, had failed to cancel a court ruling issued against it to pay a fine of $ 115 million in favor of the National Oil Corporation.

The site added that the Emirati company, which has been operating the Ras Lanuf oil refinery since 2011, has filed a lawsuit before the Paris Partial Court, claiming that the ruling of the International Criminal Court is not neutral in its 2018 decision related to its conflict with the National Oil Company, which is the total bills that the company did not pay to the Corporation between 2011 and 2013.

Last February, the National Oil Corporation announced that the Paris Court of Appeal had ruled that the Emirati company “Lerco” paid more than $ 115 million to the corporation, in connection with an arbitration case regarding the Ras Lanuf refinery, with the interest added until February 28, 2021, to reach the amount owed by the company Lerco to more than $ 132 million.

It is worth noting that the “Trasta” company owned by the “Al Ghurair” group resorted in 2013 to international arbitration and filed arbitration cases against the Libyan National Oil Corporation, to demand compensation estimated at $ 900 million, in addition to $ 12 billion over the supply agreement for more than 25 years.

Leave your vote

Check Also

Al-Jazawi: There is a tendency to adopt the parliament election law in the next session

Member of Parliament Saad Al-Jazwi said, in a statement to Arraed, that there is a …

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.