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Broad foreign arbitration clauses are enforceable in the US | Hellenic Shipping News Worldwide


Broad foreign arbitration clauses are enforceable in the US
The US Court of Appeals for the 11th Circuit (one of several US regional federal courts of appeal) in a recent decision involving a commission claim made pursuant to a mega-yacht sales contract has reinforced the enforceability of broad arbitration clauses in international contracts subject to the New York Arbitration Convention and the applicability of such arbitration clauses to non-signatories in certain circumstances under the US doctrine of collateral estoppel. The Court rejected efforts by the claimants to avoid the arbitration clause by framing their claims in tort rather than contract. The greater familiarity of the US federal courts versus state courts in matters concerning arbitration makes it advisable when possible to remove such claims if filed first in a state court. This decision upholds the removability of claims subject to the New York Convention. The decision is styled Northrop and Johnson Yacht-Ship ....

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A general introduction to oil and gas law in United Arab Emirates


A general introduction to oil and gas law in United Arab Emirates
An extract from The Oil and Gas Law Review, 8th Edition
Introduction
The United Arab Emirates (the UAE) produced an average of 3 million barrels of crude oil per day in 2019, maintaining its position as the fourth-ranked OPEC member (and eighth-ranked country worldwide) in terms of crude oil production. In May 2020, daily production decreased to 2.45 million barrels of crude oil per day in response to reduced OPEC targets, a reduction in crude oil prices and the effects of the covid-19 pandemic. Further reductions for the remainder of 2020 are possible, but the UAE is expected to retain its ranking in terms of global production. Ninety-five per cent of the UAE s proven oil reserves are based in the emirate of Abu Dhabi (Abu Dhabi), one of the seven emirates of the UAE, and Abu Dhabi s production accounts for almost all, if not all, of the oil exported from the UAE. ....

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