Inform, Inspire, Embolden. Reconcile!

Kuwait’s IPG Suing Eritrea For unpaid Bills

The Independent Petroleum Group (IPG) is suing Eritrea for Kuwait Dinars 19 million (apx. $65 million) due payments for petroleum delivered to Eritrea.
 
IPG resorted to the Court of Arbitration in London hoping “to obtain an arbitration award confirming that Eritrea and the Petroleum Corporation of Eritrea… should immediately pay IPG the value of delivered petroleum products.”
 
Kuwait News Agency (KUNA) reported that “IPG has been supplying petroleum products to the Petroleum Corporation of Eritrea (PCE) for more than 11 years.”
 
The Eritrean government is facing difficulties in meeting its international financial obligations due to severe shortages in hard currency.

IPG hopes to collect the due amount from Eritrea’s international assets, but the Eritrean government’s assets are registered under the names of individuals and dubious entities run by its extensive ruling party network.
 
Kuwait, though not as close as Qatar, is among the few Arab countries that until recently had close relations with the Eritrean Government.

 

Pinterest

Jebena Presents Grafted Skin

19 Jun 2016 awatestaff Comments (15)

A few days ago a loyal friend of awate.com sent us a link to a song that was recently released.…

Commission of Inquiry on Eritrea: Report Summary

15 Jun 2016 Salyounis Comments (287)

On June 8, 2016, the Commission of Inquiry on Human Rights in Eritrea issued a 94-page report of its findings…

"Deserters", Combatants Triggered Eritrea-Ethiopia Battle

13 Jun 2016 Gedab News Comments (52)

Gedab News has received credible information that the shoot-out between Eritrean and Ethiopian border-patrol soldiers of last weekend was triggered…

Yet Another Eritrea-Ethiopia Military Clash

12 Jun 2016 Gedab News Comments (107)

Multiple sources have reported that there was a military clash between Eritrea and Ethiopia along their common border. The clash occurred…

Music

Cartoons

Links

Follow Us

Email
Print