A group of German and Spanish companies with interests in Europe’s largest solar power plant have filed a claim against Spain at ICSID under the terms of the Energy Charter Treaty (ECT). The case is ICSID’s first new filing of 2015, but hardly the first such challenge for the Spanish government. Spain is already the […]
El Salvador and mineral firm in final stages of ICSID arbitration
The International Centre for the Settlement of Investment Disputes (ICSID) is currently in the final stages of arbitrating a dispute between the government of El Salvador and Pacific Rim LLC, a gold mining company recently acquired by Australian mining firm OceanaGold. The ICSID proceedings began in 2009, when Pacific Rim claimed El Salvador unlawfully denied […]
ISIS advance spells opportunity for Kurdistan and foreign oil giants
Iraqi officials reported on Thursday that the Kurdistan Regional Government had begun pumping oil from two oil fields near the city of Kirkuk. The city itself, which has long been a site of contention between the Baghdad government and the KRG, fell under Kurdish control after Iraqi Army units withdrew last month. Since then, the […]
Iraq beefs up air force as Korea eyes global jet market
South Korea’s Korean Aerospace Industries (KAI) made news recently with its biggest deal ever, a $1.1 billion sale of FA-50 light attack jets to the Iraqi air force. Under the deal, Korea Aerospace Industries (KAI) will deliver 24 FA-50 jets to the Iraqi Air Force between 2015 and 2016. The FA-50 is a light attack […]
Brazil: Multi-national consortium wins offshore production rights amid protests
A consortium made up of Brazil’s state-run oil firm Petrobras, Shell, Total, and Chinese companies CNPC and CNOOC has won a production license for the offshore Libra oilfield. The 35-year license to the deep-sea field–which is thought to be rich enough to potentially double Brazil’s oil reserves–was auctioned off by Brazil’s National Petroleum Agency. The consortium […]