VOL. XLVI

No 13

31-March-2003

SAUDI ARABIA

SABIC To Appeal US Court Ruling In Favor Of ExxonMobil

Saudi Basic Industries Corporation (SABIC) announced on 22 March that it is to appeal to the Delaware Supreme Court in the US to set aside a verdict issued the previous day which awarded ExxonMobil $416.8mn in damages. In July 2000, SABIC filed an action in the Delaware court concerning an accusation by ExxonMobil that it had overcharged two of its joint ventures Al-Jubail Petrochemical Company...