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Launch of legal proceedings against Tunisia: Zenith Energy's actions affected

12/06/2023
Source : ORISHAS FINANCE
Categories: Sectors

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La compagnie pétrolière Zenith Energy a annoncé avoir lancé une procédure judiciaire contre la Tunisian Republic to demand “at least 48 million dollars US”.

As a result of these proceedings, the company's shares plunged 6% into the red to 0.4 pence after climbing 11%.

Dans un communiqué, Zenith Energy a indiqué avoir lancé la procédure judiciaire contre la Tunisian Republic following a “series of actions undertaken by the Tunisian government to the material detriment of the commercial interests of investors and “unreasonable and arbitrary obstructions” in connection with the development of the Sidi El Kilani and Ezzaouia concessions. According to the oil company, these actions are contrary to the terms of the licences and constitute “unjustified obstructions” to the processing of the sale of the oil produced

.

La société a annoncé que des efforts ont été déployés pour entrer en contact avec les organismes gouvernementaux competent in Tunisia, but they were not successful. Thus, arbitration was therefore launched “to safeguard its commercial interests and legal rights.”

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