VOL. XXXI
NO. 21
29-FEBRUARY-1988
UAE
Amoco Wins Arbitration Award against EGPC
Amoco Sharjah Oil Company has been awarded $383mn in damages from theEmirates General Petroleum Corporation (EGPC). The three member arbitrationpanel appointed by the Paris-based International Chamber of Commerce, finding inAmoco's favor, has given EGPC 30 days to pay, but also required Amoco to passon more than 80% of the award to the Sharjah Government in lieu of its unpaid54% petroleum tax, 50% income tax and 14.5%...
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