PSO wins arbitration case against Gunvor

By MG News | October 12, 2022 at 05:18 PM GMT+05:00

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October 12, 2022 (MLN): Pakistan State Oil (PSO) has won an arbitration case against international energy trader Gunvor Group Ltd. regarding excess payments for natural gas shipments, Bloomberg reported on Wednesday.

The report added that the London Court of International Arbitration sided with the Pakistani company, which had reduced payments to Gunvor due to overcharged shipments, people with knowledge of the matter said.

PSO was awarded $14.6 million, as well as other costs, on Oct. 8 for the case initiated by Gunvor in 2020, said the people who asked not to be named as they’re not authorized to speak about the case.

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