• Linkedin
  • Twitter
  • Rss

Oil, Gas & Energy Law

Skip navigation

Oil, Gas & Energy Law

Global Energy Law & Regulation Portal

Join OGELFORUM

Oil, Gas & Energy Law

Global Energy Law & Regulation Portal

  • Sign in
  • Subscribe
  • Home
  • Sign in
  • About About
    1. Home
    2. About
    3. About OGEL
    4. About OGEL
    5. Founding Editor T.W. Wälde
    6. T.W. Wälde
    7. Editorial team
    8. Editorial team
    9. Contributing Authors
    10. Contributing Authors
    11. Subscriptions
    12. Subscriptions
  • Journal Journal
    1. Home
    2. Journal
    3. Browse Issues
    4. Browse
    5. Articles by Category
    6. By Category
    7. Articles by Author
    8. By Author
    9. Advance publication
    10. Advance publication
    11. Specials
    12. Specials
    13. Search
    14. Search
    15. Book reviews
    16. Reviews
  • Legal & Regulatory docs. L & R docs
    1. Home
    2. Legal & Regulatory docs.
    3. L&R by Country
    4. L&R by Country
    5. L&R by Category
    6. L&R by Category
    7. L&R recent additions
    8. L&R recent additions
    9. Search
    10. Search
  • OGELFORUM OGELFORUM
    1. Home
    2. OGELFORUM
    3. About OGELFORUM
    4. About OGELFORUM
    5. Browse archive
    6. Browse by date / topic
    7. Search
    8. Search
    9. Join
    10. Join
  • News & Events Events
    1. Home
    2. News & Events
    3. News
    4. News
    5. Events
    6. Events
  • OGEL Studies OGEL Studies
    1. Home
    2. OGEL Studies
    3. About OGEL Studies
    4. About OGEL Studies
  • Subscribe
Home > Legal & Regulatory docs.

PAO Tatneft v Ukraine United States District Court for the District of Columbia Civil Action No 2017-0582 Memorandum Opinion by Judge Colleen Kollar-Kotelly - 24 August 2020

  • Sign in to download document
Country
  • Russian Federation
  • Ukraine
  • United States
Year

2020

Summary

MEMORANDUM OPINION

Pending before this Court is Petitioner Pao Tatneft's [1] Petition to Confirm Arbitral Award and to Enter Judgment in Favor of Petitioner.(1) Pao Tatneft, formerly known as OAO Tatneft, brings this action to enforce a 2014 foreign arbitral award entered in favor of Petitioner Pao Tatneft and against Respondent Ukraine by the International Arbitral Tribunal in OAO Tatneft v. Ukraine, an arbitration seated in Paris, France and conducted pursuant to the Rules of the United Nations Commission on International Trade Law ("UNCITRAL"). Pao Tatneft was awarded $112 million plus interest accruing at the U.S. dollar LIBOR rate plus 3%, compounded every three months, with further instructions about accrual of interest. See Merits Award (also referred to as the "Final Award") , attached as Ex. A to Declaration of Jonathan Blackman, ECF No. 1-3.2 For the reasons set forth herein, the Court GRANTS Pao Tatneft's [1] Petition to Confirm Arbitral Award, and requests that the Petitioner file a proposed order of judgment reflecting the amount of the constituent parts of the award, along with a brief summary of the interest calculations, and Respondent have the opportunity to respond thereto.

...

IV. CONCLUSION

The Court must confirm the Merits Award unless it finds that Respondent has established one of the grounds for refusal specified in the New York Convention. See 9 U.S.C. § 7. Having rejected Ukraine's arguments under the New York Convention, Articles V(1)(d) and V(2)(b), this Court will accordingly confirm the Merits Award. This leaves open however the question of how much to award. In its Petition, ECF No. 1, at 7 ¶¶ 17-18, Pao Tatneft indicates that the Award to be paid by Ukraine is in the amount of US$112 million, and the Award provides further that Ukraine must pay interest on this amount at the U.S. dollar LIBOR rate plus 3% compounded every three months, accruing until the date of payment. Furthermore, the Award states that the interest on $68.44 million (of the total $112 million) would begin accruing on May 12, 2009, while the interest on the other $43.56 million would begin accruing on January 27, 2020, though accrual of interest was suspended for sixty days after the issuance of the Award. Id. Accordingly, by September 21, 2020, Petitioner shall file a proposed order of judgment reflecting the exact monetary amount of its constituent parts of the Final Award, along with a brief summary of its calculations of interest. Ukraine may respond to the form of the proposed order and associated calculations by no later than October 12, 2020, and Pao Tatneft's reply, if any, is due by October 26, 2020. A separate Order accompanies this Memorandum Opinion.

(1). In connection with this Memorandum Opinion, the Court considered Petitioner's [1] Petition to Confirm Arbitral Award and to Enter Judgment in Favor of Petitioner ("Pao Tatneft Pet."), and exhibits attached thereto, including but not limited to the Merits Award, which is filed at ECF No. 1-4 through 1-7; Respondent's [22] Opposition to Petitioner's Petition to Confirm Arbitral Award (Ukraine Opp'n."); Petitioner's [35] Reply in Further Support of Petition to Confirm Arbitral Award and to Enter Judgment in Favor of Petitioner ("Pao Tatneft Reply"); the Jurisdiction Decision, attached as Ex. A to the Supplemental Declaration of Jonathan Blackman, ECF No. 27-3; and the record in this case. In an exercise of its discretion, the Court finds that holding oral argument in this action would not be of assistance in rendering a decision. See LCvR 7(f).

To download this document you need to be a subscriber

Sign in

Forgot password?

Sign in

Subscribe

Fill in the registration form and answer a few simple questions to receive a quote.

Subscribe now

Documents missing? Documents to share? Let us know!

If you know of documents which are currently missing from our Legal & Regulatory database do let us know. You can send them directly to us for inclusion in the database, anonymously or otherwise.
Learn more here

Call for contributions

OGEL Call for Papers: COVID-19 and the Energy Transition

Dr. Theophilus Acheampong and Professor Tina Soliman Hunter

  • Dr. Theophilus Acheampong
  • Prof. Tina Hunter

OGEL Call for Papers: Law and Policy for Gas Flaring in a Low-carbon Economy

Dr. Tade Oyewunmi and Mohamed Rali Badissy

  • Dr. Tade Oyewunmi
  • Mohamed Rali Badissy

OGEL Call for Papers: The Circular Economy and the Energy Transition

Dr. Maria R. Mazzanti and Giacomo Luciani

OGEL Call for Papers

OGEL Call for Papers: Review of the Energy Sector in Ghana

Victoria Ayensu

  • Victoria Ayensu
  • More
  • Contribute

Advance publication

Estimating Fair Market Value of Nigerian Petroleum Assets: A Risk-Based Approach

2 Feb 2021

K.I. Ojukwu, O. Iledare, J.A. Ajienka, A. Dosunmu, A.C. Ibe

  • K.I. Ojukwu
  • O. Iledare
  • J.A. Ajienka
  • A. Dosunmu
  • A.C. Ibe

Good Oil, Clean Waters? Ghana's Oil Decade and Environmental Protection

16 Dec 2020

A.B. Opoku Acquah

  • A.B. Opoku Acquah

The Hydrogen Hope? Challenges and Opportunities for an Australian Hydrogen Industry

15 Dec 2020

M. Taylor, T. Soliman Hunter

  • M. Taylor
  • T. Soliman Hunter
  • More
  • Contribute

Stay connected

Sign up for our email alerts.

  • Issues
  • Advance publication
  • News
  • Linkedin
  • Twitter
  • RSS

Join the debate

Want to join OGELFORUM, our unique platform for oil, gas and energy issues?

Simply fill in the registration form to start your trial membership.

Download the app

  1. App store
  2. Google play

The Oil, Gas & Energy Law Intelligence (OGEL, ISSN 1875-418X) Journal and OGELFORUM listserv focus on recent developments in the area of oil, gas, energy law, regulation, treaties, judicial and arbitral cases, voluntary guidelines, tax and contracting, including the oil, gas, energy geopolitics. Read our Terms & Conditions here, and our Privacy Policy here.

About OGEL

  • Terms & Conditions
  • Contribute
  • Subscriptions
  • Contact
  • Help

Other publications

  • Transnational Dispute Management (TDM)

© 2004 - 2021. Published by MARIS.

  • Home
  • Contribute
  • Subscriptions
  • Contact
  • Help