KBR: US Appeals Court denies rehearing
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
KBR Inc. has announced that the United States Second Circuit Court of Appeals has denied PEMEX Exploracion y Produccion's (PEP) petition for rehearing on a judgment in favour of COMMISA (a subsidiary of KBR) in excess of US$465 million.
This outcome follows a decade of litigation involving two offshore natural gas treatment, processing and reinjection platforms which COMMISA built for PEP, platforms which have been working and in use by PEP since 2004 but for which COMMISA was never fully compensated.
Stuart Bradie, President and CEO of KBR, said: "We are encouraged by this positive result for KBR's subsidiary COMMISA and believe this moves us another step closer to recovering substantial amounts long overdue for work performed decades ago.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04112016/kbr-us-appeals-court-denies-rehearing/
You might also like
IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty
Sluggish demand growth for LNG, combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis.