Shell (SHEL) is challenging its defeat in an arbitration case against Venture Global (VG) in the New York Supreme Court, weeks after rival BP (BP) won a similar $1B-plus arbitration, according to a legal filing seen by Reuters, Francesca Landini and Stephanie Kelly report. The arbitration cases were over Venture Global’s failure to deliver liquefied natural gas under long-term contracts while selling on the spot market as prices soared after the outbreak of the war in Ukraine.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHEL:
- Shell Stock (SHEL) Slides Despite Gearing up for New Venture Global Court Battle
- Shell price target raised to $90 from $87 at Piper Sandler
- CVX, SHEL, XOM: Oil on Track for Second Weekly Loss as Oversupply Worries Persist
- Shell price target raised to 2,700 GBp from 2,650 GBp at Citi
- Shell commences exchange offers for six series of USD notes