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...
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