TotalEnergies ordered to pay NNPC $285.2 million in oil payment dispute victory

TotalEnergies has been ordered by an arbitration tribunal to pay NNPC $285.2 million in a legal battle stemming from a 2000 agreement. The dispute centered on TotalEnergies' right to continue lifting oil from NNPC after the latter had been fully repaid.

NNPC filed a counterclaim to recover overlifted oil, leading to the tribunal's decision. TotalEnergies must also cover legal costs and settle within 14 days.

The case may continue in the Federal High Court as NNPC seeks recognition and enforcement of the ruling.