Financial and Banking News


Iran-US Tribunal Makes Record Award to US Oil Company

The Iran-US Claims Tribunal, sitting in The Hague, last week finally ordered payment of $114.5mn to the Texas-based oil drilling company Sedco, which is now a unit of Schlumberger. At the time of the Iranian revolution Sedco, then owned by Governor William Clements, pulled out of contracts in Iran, and its case for compensation has been the largest and most controversial to have been...