{"id":3839,"date":"2024-08-20T13:20:38","date_gmt":"2024-08-20T17:20:38","guid":{"rendered":"https:\/\/www.ppolegal.com\/en\/2024\/08\/20\/ppo-abogados-boosts-tax-practice-with-new-partner-hire-copy\/"},"modified":"2024-08-20T13:32:28","modified_gmt":"2024-08-20T17:32:28","slug":"shell-wins-damages-from-bolivian-oil-company","status":"publish","type":"post","link":"https:\/\/www.ppolegal.com\/en\/2024\/08\/20\/shell-wins-damages-from-bolivian-oil-company\/","title":{"rendered":"Shell wins damages from Bolivian oil company"},"content":{"rendered":"\t\t
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Shell wins damages from Bolivian oil company<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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An International Chamber of Commerce (ICC) tribunal has ordered Bolivia\u2019s state-owned oil company to pay US$10 million to a subsidiary of Dutch oil giant Shell over outstanding debts owed by a previous administration.<\/p>

The deputy leader of Bolivia\u2019s opposition party, Jos\u00e9 Manuel Ormachea, announced on 12 August that Yacimientos Petrol\u00edferos Fiscales Bolivianos (YFPB) had been found liable in the proceeding launched by Shell\u2019s Bolivian entity.\u00a0Ormachea said YFPB had been ordered to pay US$10 million in damages to the Shell entity, which had sought US$26 million in the arbitration.<\/p>

Bolivia\u2019s attorney general C\u00e9sar Siles released a statement the next day \u2013 confirming the result but stating that YPFB will be launching set-aside proceedings.<\/p>

The Shell entity was represented by Ferrere (Bolivia) and Ferrere (Uruguay) and PPO Abogados in Santa Cruz, while YPFB used a team from Argentine firm Guglielmino International Law.<\/p>

Little is known about the dispute, but it relates to outstanding payments for oil production under the administration of Jeanine A\u00f1ez, who served as Bolivia\u2019s president from 2019 to 2020. Shell filed the ICC claim in 2020.<\/p>

The La Paz-seated tribunal was chaired by Costa Rica\u2019s former foreign trade minister Dyal\u00e1 Jim\u00e9nez Figueres. Shell appointed Argentina\u2019s Victor Gustavo Parodi, while YPFB appointed Spanish-Argentine arbitrator Diego Fern\u00e1ndez Arroyo.<\/p>

According to Siles, the tribunal awarded damages in respect of four out of six claims brought against YPBF by Shell.<\/p>

Ormachea said the result was further evidence that the Bolivian authorities, especially its State Attorney General’s Office, were insufficiently prepared to defend the state\u2019s interests in international cases.<\/p>

Last month, the Bolivian attorney general disclosed that the state\u2019s ministry of health was facing a US$14 million claim from a Spanish construction company over a project to build a hospital. Counsel to the parties has not been disclosed.<\/p>

Bolivia was threatened at the beginning of the year with a potential claim from a Russian company over payments allegedly owed for supplies of Russia\u2019s state-developed covid-19 vaccine.<\/p>

The state has also had several recent wins, including against a treaty claim brought by the estate of a deceased dual national over the alleged expropriation of mining concessions, a US$270 million claim brought by a Peruvian group over the nationalisation of a cement producer, and an ICC claim brought by an Indian steelmaker over a terminated mining partnership.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Shell Bolivia v Yacimientos Petrol\u00edferos Fiscales Bolivianos (ICC case)<\/h3>

Tribunal<\/h3>

Dyal\u00e1 Jim\u00e9nez Figueres (chair) (Costa Rica)
Victor Gustavo Parodi (Argentina)
Diego Fern\u00e1ndez Arroyo (Spain-Argentina)<\/p>

Counsel to Shell<\/h3>

Ferrere (Bolivia)
PPO Abogados
Ferrere (Uruguay)<\/p>

Counsel to YPFB<\/h3>

Guglielmino International Law<\/p>

\u00a0<\/p>

This article was first published by Latin Lawyer\u2019s sister publication Global Arbitration Review on 15 August.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

An International Chamber of Commerce (ICC) tribunal has ordered Bolivia\u2019s state-owned oil company to pay US$10 million
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