VOL. XXXI

NO. 24

21-MARCH-1988

UAE

EGPC Fails to Meet Deadline for Payment of Debt to Amoco

According to a spokesman of Amoco Sharjah Oil Company, the Emirates GeneralPetroleum Corporation (EGPC) has failed to meet the 7 March deadline to payAmoco $383mn in damages in accordance with a ruling of an arbitration panel lastmonth appointed by the Paris-based, International Chamber of Commerce (MEES,29 February). The panel, finding in Amoco's favor, had given EGPC 30 days tosettle its arrears to Amoco...