US Court of Appeals partially overturns District Court's refusal to enforce $1.8 billion arbitration award in favour of ESSO

In a decision dated 8 July 2022, the United States Court of Appeals for the Second Circuit affirmed in part and vacated in part the judgment of the United States District Court for the Southern District of New York declining to enforce a USD 1.8 billion arbitral against the Nigerian National Petroleum Corporation (NNPC) and in favor of Esso Exploration and Production Nigeria Limited and Shell Nigeria Exploration and Production Company Limited (collectively, “Esso”), that had been set aside in part by Courts in Nigeria, the primary jurisdiction.