Shell, ExxonMobil to Enforce $1.8bn Arbitration Award Against NNPC

An appeal court in the U.S says ExxonMobil Corp and Royal Dutch Shell Plc affiliates may try to enforce a part of a $1.8 billion arbitration award against the Nigerian National Petroleum Company Limited in a dispute concerning oil extraction near the African country's coastline. <br />The 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge erred in rejecting the entire October 2011 award, which by 2018 had grown to $2.67 billion including interest, against NNPC. <br />It says the judge should have determined which parts of the award had been deemed enforceable by a Nigerian appeals court.