News
Eni & Vitol vs Ghana: $915M awarded, debate ensues
The International Arbitration Tribunal ruled in a dispute involving Eni & Vitol against Ghana and Ghana National Petroleum Corporation (GNPC). The tribunal dismissed most of the claims by Eni & Vitol, including their request for a forced merger and punitive damages.
However, it awarded $915 million in monetary damages to Eni & Vitol. The decision sparked debate, with some viewing it as a partial victory for Ghana, while others argue that the government suffered a significant loss.
The tribunal’s ruling also highlighted the need for Ghana to follow proper procedures for unitisation directives, which was a key point of contention in the case.