VOL. XXXIX
No. 52
23-September-1996
UAE
Crescent Threatens Legal Action Against Pakistani Partner
The Sharjah-based Crescent Petroleum may take legal action against its 50:50 joint venture partner - the Pakistani state-owned PERAC - in a hydrocracker project in Pakistan, following PERAC's unilateral decision on 8 July to end the partnership. Crescent maintains that there is no provision for such unilateral action in their agreement of 1993 to build a 1.65mn ton/year hydrocracker in...
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