The Human and Environmental Development Agenda, Re:Common, Global Witness, and Corner House, have called on the Nigerian government to stand against Eni’s legal move over the oil processing license (OPL) 245.
Orange Group has instituted legal proceedings against Iraq in an attempt to claw back more than USD 400 million in investments it alleges were expropriated by the country’s regulator.
The tribunal rejected the investor’s claims of expropriation, breach of standard of FET, breach of standard of full protection and security, and breach of standard of non-arbitrary or discriminatory measures.
Eni plans to argue that the country’s failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell nearly a decade ago breaches their investment agreement.
Does moving online mean more governments and more officials participate? Or does it lessen the prestige and priority of the negotiations, leading to less engagement by key officials?
Tanzania has enacted significant changes to the legislation governing foreign investment in natural resources with the aim of ridding the sector of the vestiges of “colonial” relationships.
Effective and holistic reform must go beyond procedural matters and cover substantive matters in order to rebalance the system and address recurring concerns that threaten the legitimacy of the ISDS system.