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Texaco Overseas Petroleum Company (U.S.) & California Asiatic Oil Company(U.S.) v. Government of the Libyan Arab Republic

Year (case):
1977
Year (treaty):
1955
1963
1966
1970
1971
Time period:
1950-2000
Jurisdiction/region:
North Africa
State/territory:
Libya
Document language:
English
Dispute resolution method:
Arbitration
Classification:
Investor-State
Topics:
Individual rights' violations Expropriation
State responsibilityReparationsForms of reparation Restitution
Contracts
Legal instrument:
Contract
Presiding or sole arbitrator:
René-Jean Dupuy (France)
Nationality of arbitrator:
France
Citation:
Texaco Overseas Petroleum Company (US) & California Asiatic Oil Company(US) v. Government of the Libyan Arab Republic, Award of January 19, 1977, in Pieter Sanders (ed) International Council for Commercial Arbitration (ICCA) Yearbook Commercial Arbitration, vol IV (Kluwer Law International 1979) 177
Link to source:
https://www.kluwerarbitration.com/document/ipn663
Description:
The dispute concerns Libya’s 1974 Decree nationalizing 14 petroleum concessions granted between 1955 and 1968. The tribunal found that the nationalization breached the concession agreements, but full restitution was not impossible. Libya was ordered to comply with its contractual obligations and to report on its implementation.

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