Summary

1. Conex Oil & Gas Holdings Ltd ("COGH") applies for a stay of the proceedings issued by PSTV Energy FZCO ("PSTV") pursuant to CPR 11, alternatively on case management grounds. COGH is incorporated in the British Virgin Islands and is the holding company for a group of companies selling oil and gas in West Africa. One of those group companies is Conex Petroleum Services Inc. ("CPS"), incorporated in Liberia. PSTV is a supplier and trader of marine fuel, incorporated in Dubai. Its ultimate parent company is Bunker Holdings A/S, based in Denmark.

2. PSTV's claim, issued on 24 July 2025, is for the sum demanded by PSTV from COGH pursuant to a guarantee (the "Guarantee") given by COGH of the obligations of CPS under an agreement between PSTV and CPS dated 10 June 2021 by which PSTV agreed to, and did, supply marine fuels to CPS for distribution into the local markets in Liberia and Sierra Leone (the "Supply Agreement"). The Supply Agreement is governed by English law and contains an arbitration agreement providing for arbitration in London.

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